(1) The annual registration fee for motorboats shall be set by the department by administrative regulation. Every application for registration or renewal of registration shall be accompanied by the registration fee in addition to a one dollar ($1) fee which shall be deposited in a trust and agency account for use by the Transportation Cabinet in defraying the cost of implementing and operating the boat titling and registration program.
(2) The annual registration fee for motorboats for hire from a livery shall be the registration fees set forth in subsection (1) of this section. Owners of a livery shall apply for licenses or certificates in the manner provided in this chapter, but the Transportation Cabinet may promulgate special administrative regulations relating to their certification and registration.