23-2-516. Fee in lieu of tax for motorboats 10 feet in length or longer, sailboats 12 feet in length or longer, personal watercraft, motorized canoes, motorized rubber rafts, and motorized pontoons. (1) There is a fee in lieu of property tax as prescribed in 23-2-517 imposed on motorboats 10 feet in length or longer, sailboats 12 feet in length or longer, personal watercraft, motorized canoes, motorized rubber rafts, and motorized pontoons. The fee is in addition to the annual fee required by 23-2-512 for filing of the application for a certificate of number.
     (2) The fee imposed by subsection (1) need not be paid by a dealer for motorboats, sailboats, personal watercraft, motorized canoes, motorized rubber rafts, or motorized pontoons that constitute inventory of the dealership.

     History: En. Sec. 8, Ch. 649, L. 1987; amd. Sec. 4, Ch. 577, L. 1989.