 ABATE News: ABATE OF FLORIDA ANNOUNCES FINANCIAL IMPACT OF HELMET LAW REPEAL
Posted byherseyc on Monday, February 20, 2006 @ 06:58:01 EST
Contributed by herseyc
ABATE OF FLORIDA ANNOUNCES FINANCIAL IMPACT OF HELMET LAW REPEAL On February 6, 2006 James "Doc" Reichenbach II, President of ABATE of Florida and Chairman of the Board for the National Coalition of Motorcyclists, released the following economic impact report covering the five years since Florida modified their mandatory helmet law to exclude most adult riders.
278,331 new Motorcycles at an average of $10,000 each = $2,783,310,000
Sales tax on Motorcycles at 6% = $166,998,600
Registration Fees for Motorcycles = $10,047,749
Change of title = $8,280,347
Total = $2,968,636,696
"This is almost three billion dollars in five years that has been put into the economy of the State of Florida, and this is a low figure as it doesn't include antique motorcycle or mopeds that are licensed in Florida," said Doc. "Over one hundred eighty million dollars went directly into the state treasury for the general fund, and this does not include the tourist money that has increased because of Florida being a freedom of choice state. In the past five years over Two Billion five hundred thousand dollars has been spent at Bike Week and Biketoberfest."
For the report, the motorcycle registrations were compiled from the Florida Department of Highway Safety and Motor Vehicles. The tax and fees came from the Florida license and registration bureau. From July 1, 2000 to July 1, 2005 motorcycle registrations in Florida went from 195,306 to 473,637 which represent a total of a 143% increase.
"I hope these figures will help anyone who has heard the bad publicity that has come out of our amended law," said Doc. "The motorcyclists have certainly paid their fair share into the Florida economy and it can be done in every state."
For more information visit ABATE of Florida at http://www.abateflorida.com/
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