New bill regarding specialty license plates could cost Utah Historical Society millions in future revenue

SALT LAKE CITY — The Utah Historical Society could potentially miss out on millions of dollars under a bill introduced in the Legislature focused on specialty license plates.

HB324, sponsored by Rep. Val Peterson, R-Orem, would impose an annual cap of $300,000 on the earnings state agencies can make from specialty license plates, like the popular black vintage plates, the proceeds of which go to the Utah Historical Society.

Jason Gardner of the Utah State Tax Commission told KSL NewsRadio the black plates have generated about $6 million over the last couple of years. That means, if this bill were to become law and demand for the black plates stays high, the Historical Society would have to give up all its earnings from the plates over $300,000 to the state’s Transportation Fund.

“Approximately for the first year, we’d probably [be] about $4.5 million to $5 million going to the Transportation [Fund].”

Under the proposed cap, Gardner said the black plates would be the only ones affected.

“No other state agency special group license plate is even close to reaching the $300,000 threshold.”

The bill has yet to be discussed or voted on in a committee or on the Utah House or Senate floors.

Donna Law, the executive director of the Utah Department of Community and Cultural Engagement, which oversees the Utah Historical Society, told KSL NewsRadio the bill was removed from Thursday’s legislative agenda so they can speak more with the bill sponsor.

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