(1) Any person who is the owner of a vehicle registered under the provisions of section 49-402 or 49-434 (1), Idaho Code, or registered under any other section of law for which the purchase of special plates is allowed, may apply for and, upon department approval, receive special innovation license plates in lieu of regular license plates. The provisions of this section shall not apply to any vehicle with a registered maximum gross weight over twenty-six thousand (26,000) pounds. Availability of innovation license plates for other vehicles shall be subject to the rules, policies and procedures of the department. (2) In addition to the regular registration fee required in chapter 4, title 49 , Idaho Code, the applicant shall be charged a fee of thirty-five dollars ($35.00) for the initial issuance of plates, and twenty-five dollars ($25.00) upon each succeeding annual registration. Ten dollars ($10.00) of the initial fee and ten dollars ($10.00) of the renewal fee shall be deposited in the state highway account and shall be used to fund the cost of administration of this special license plate program. Twenty-five dollars ($25.00) of each initial fee and fifteen dollars ($15.00) of each renewal fee shall be transferred by the state treasurer for deposit to the Idaho innovation fund created in section 67-4725 , Idaho Code, and shall be used by the commercial innovation division of the department of commerce for attracting innovation companies to locate or to expand their operations in Idaho. (3) Whenever title or interest in a vehicle registered under the provisions of this section is transferred or assigned, the owner may transfer the special plates to another vehicle upon payment of the required transfer fees. The owner may only display the plates on another vehicle upon receipt of the new registration from the department. (4) The innovation license plate shall be of a color and design in accordance with the provisions of section 49-402C , Idaho Code. The design and any slogan on the plate shall be acceptable to the director of the department of commerce and shall be approved by the Idaho transportation department utilizing a numbering system as determined by the department. Initial costs of the plate program, including costs of plate design, shall be paid by the department of commerce. (5) Sample innovation license plates may be purchased for a fee of thirty dollars ($30.00), ten dollars ($10.00) of which shall be deposited in the state highway account and twenty dollars ($20.00) of which shall be transferred to the Idaho innovation fund, and shall be used by the commercial innovation division for attracting innovation companies to locate or to expand their operations in Idaho.
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