Chapter 90 of the General Laws, as appearing in the 2020 Official Edition, is hereby amended by inserting after 33B the following section:-

Section 33C. (a) As used in this section, the following words shall, unless the context clearly requires otherwise, have the following meanings:-

“Eligible vehicle,” a passenger vehicle that is neither a plug-in hybrid electric vehicle with an all-electric range of 25 miles or greater nor a battery electric vehicle and whose model has a final sales price of $60,000 or greater.

(b) The registrar shall impose an additional fee on the registration of an eligible vehicle that is leased or purchased new. The fee shall not be imposed on the renewal of the registration of an eligible vehicle.

(c) The registrar, in consultation with the department of energy resources, shall set a formula to determine the size of the fee for each model of eligible vehicle. In setting the formula, the registrar shall consider the eligible vehicle’s: (1) final sales price; (2) weight; and (3) and any other criteria the registrar deems necessary to consider to promote equity and ensure that the fees do not unduly burden low-income residents. The fee imposed on an eligible vehicle shall not exceed $3,500 for a purchased vehicle and shall not exceed $100 for each month in the term of the lease or $3,500 total for a leased vehicle.

(d) The fees received under this section shall be deposited into the Electric Vehicle Adoption Incentive Trust Fund established in section 19 of chapter 25A.

(e) The registrar shall promulgate such rules and regulations as are necessary to administer this section by not later than December 31, 2023.