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RES-8989 Supporting Governor's Vehicle License Fee Reduction ProposalRESOLUTION NO. 8989 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ORANGE SUPPORTING THE GOVERNOR'S VEHICLE LICENSE FEE (VLF) REDUCTION PROPOSAL. WHEREAS, the California Vehicle License Fee (hereafter "VLF") is an annual fee imposed upon all motor vehicles registered in the State of California and is currently assessed at two percent of the vehicle's market value as annually adjusted by a fixed depreciation schedule; and WHEREAS, the average VLF in the State is approximately $185 per registered vehicle, totaling an estimated $3.9 billion a year; and WHEREAS, the revenues from the VLF are constitutionally defined local revenues and are apportioned according to statute with approximately three- fourths of the VLF revenues distributed to cities and counties for general pmpose use; and WHEREAS, the Governor has a proposal to reduce the VLF rate from its current two percfmt to one percent (1 %) beginning January 1, 1999, and to one-half of one percent (0. 5%)beginning January I, 2002, with no change to the current distribution formula and which proposal will result in saving California taxpayers $2 billion in 1999 and increasing to $3.6 billion annually begirming in 2002; and WHEREAS, to protect local government from being negatively affected by the proposed VLF reduction, the Governor's proposal will statutorily annually appropriate to cities and counties amOlmts equal to the lost VLF revenues from the State General Fund.NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Orange that the City Council, with a guaranty of replacement revenues to the City of Orange, does hereby express its support for Governor Wilson's proposal to reduce the California Vehicle License Fee from the current two percent of vehicle value on one-half of one percent (a 75 percent reduction)over the next five years with the first reduction from two percent to one percent of vehicle value being effective January I, 1999, and an additional reduction from one percent to one- half of one percfmt of vehicle value being effective January 1,2002, resulting in an anticipated $3. 6 billion in annual savings to California residents.ADOPTED this ~R"h day of , TlIly 1998.ATTEST:l1,..1.uA'~ A'~ ('.#7 .A/'~City Clerk I hereby certify that the foregoing Resolution was duly and regularly adopted by the City Council of the City of Orange at a regular meeting thereof held on the 28th day of ill.lly , I 998, by the following vote:AYES: COUNCIL MEMBERS: MURPHY, SLATER, COONTZ, SPURGEON, ALVAREZ NOES: COUNCIL MEMBERS: NONE ABSENT: COUNCIL MEMBERS: NONE ABSTAIN: COUNCIL MEMBERS: NONE CM~ AdZb-J ~7WA~ City Clerk of the 'y of Orange Reso No. 8989 2-aJJ