Section 49-504A - PENALTY FOR LATE FILING - TRANSFER OF CERTIFICATE OF TITLE - DISPOSITION OF MONEYS(1) When a transfer of ownership arises, a penalty of twenty dollars ($20.00) for presentation of a previously issued certificate of title shall be assessed against the new owner when the presentation for transfer of title or creation of an electronic ownership record in the new owner's name occurs more than thirty (30) days after the vehicle was transferred. All fines collected under the provisions of this section shall be distributed to the county current expense fund.(2) When a licensed Idaho vehicle dealer, or entity exempted from licensing as defined in section 49-105(1), Idaho Code, either takes possession of a vehicle for the purpose of resale or transfers ownership of that vehicle, no penalty shall be assessed.(3) When a person acquires ownership of a vehicle in another state, the thirty (30) day filing requirement shall begin upon initial entry of the vehicle into the state of Idaho.(4) Vehicles acquired prior to July 1, 1989, and all-terrain vehicles, motorbikes and snowmobiles acquired prior to January 1, 1991, are specifically exempt from this penalty.[49-504A, added 1989, ch. 35, sec. 2, p. 46; am. 1990, ch. 369, sec. 1, p. 1007; am. 1991, ch. 143, sec. 2, p. 340; am. 2014, ch. 38, sec. 12, p. 81.]Amended by 2014 Session Laws, ch. 38,sec. 12, eff. 7/1/2014.