IC 24-4-9-11.1: Vehicle license cost recovery fee; estimates; adjustment

Sec. 11.1. (a) A rental company may include in a rental agreement separately stated surcharges, fees, and charges, including vehicle license cost recovery fees, airport access fees, airport concession fees, and any applicable taxes.

(b) A vehicle license cost recovery fee that is included as a separately stated fee in a rental agreement must represent the rental company's good faith estimate of the rental company's daily charge necessary to recover the rental company's actual total annual vehicle licensing, titling, registration, plating, and inspection costs.

(c) If a rental company collects, in a calendar year, vehicle license cost recovery fees in an amount that exceeds the rental company's actual total vehicle licensing, titling, registration, plating, and inspection costs for the calendar year, the rental company shall do the following:

(1) Retain the excess amount.

(2) Reduce the vehicle license cost recovery fee for the following year by a corresponding, proportionate amount.

(d) This section may not be construed to prevent a rental company from adjusting its vehicle license cost recovery fee during a calendar year.