If the new motor vehicle will be registered in the state of Washington, a three-dollar arbitration fee shall be collected by either the new motor vehicle dealer or vehicle lessor from the consumer upon execution of a retail sale or lease agreement. The fee shall be forwarded to the department of licensing at the time of title application for deposit in the new motor vehicle arbitration account hereby created in the state treasury. Moneys in the account shall be used for the purposes of this chapter, subject to appropriation. During the 1995-97 fiscal biennium, the legislature may transfer moneys from the account to the extent that the moneys are not necessary for the purposes of this chapter.

At the end of each fiscal year, the attorney general shall prepare a report listing the annual revenue generated and the expenses incurred in implementing and operating the arbitration program under this chapter.

During the 2017-2019 fiscal biennium, the legislature may direct the state treasurer to make transfers of moneys in the new motor vehicle arbitration account to the state general fund.

Effective date—2017 3rd sp.s. c 1: See note following RCW 43.41.455.

Severability—1995 2nd sp.s. c 18: "If any provision of this act or its application to any person or circumstance is held invalid, the remainder of the act or the application of the provision to other persons or circumstances is not affected." [ 1995 2nd sp.s. c 18 § 926.]

Effective date—1995 2nd sp.s. c 18: "This act is necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public institutions. Section 807 of this act shall take effect immediately [June 16, 1995]. The remainder of the act shall take effect July 1, 1995." [ 1995 2nd sp.s. c 18 § 927.]

Effective date—Severability—1995 c 254: See notes following RCW 19.118.021.