The act authorizes the owner of a trailer to register the trailer for as long as the owner owns the trailer. The trailer must be class B or class D personal property. To register the trailer, the owner must pay: 2 years of annual specific ownership tax; and $55.82 to cover fees. Upon the transfer of ownership of the trailer, the owner is required to notify the department of revenue of the transfer. (Note: This summary applies to this bill as enacted.)