(a) General rule.--Except as otherwise provided in subsection (b):
(1) Registrations issued under this subchapter to owners and dealers shall be valid from April 1 of one year to March 31 of the succeeding year and shall be renewable. A registration for any year shall be valid and may properly be displayed prior to April 1 within that year.
(2) The commission may determine to issue registrations valid for a period not to exceed three years upon payment of a fee equal to the annual registration fee times the number of years for which the multiple-year registration is valid. A multiple-year registration shall be valid from April 1 of the year of its issuance until March 31 of the last year of its validity, but a multiple-year registration issued prior to April 1 of any year is valid and may be displayed at any time within that year.
(3) The commission may, by regulation, provide for the transfer of multiple-year registrations upon the sale or conveyance of a boat upon payment of the fee provided in section 5104(8) (relating to fees).
(b) Calendar-year registrations.--Registrations issued on or after the effective date of this subsection shall be subject to the following provisions:
(1) Registrations issued under this subchapter to owners and dealers shall be valid from January 1 through December 31 of the calendar year and shall be renewable. A registration for a calendar year shall be valid and may properly be displayed at any time through December 31 of the calendar year of its issuance.
(2) The commission may determine to issue registrations valid for a period not to exceed three years upon payment of a fee equal to the calendar year registration fee times the number of calendar years for which the multiple-calendar-year registration is valid. A multiple-calendar-year registration shall be valid from January 1 of the calendar year of its issuance until December 31 of the last calendar year of its validity and may be displayed at any time through December 31 of the last calendar year of its issuance.
(3) The commission may, by regulation, provide for the transfer of multiple-calendar-year registrations upon the sale or conveyance of a boat upon payment of the fee provided in section 5104(a)(8).