(a) The Secretary of the Department of Finance and Administration shall institute a system in which the county assessor and the county collector shall notify the secretary that a vehicle owner has assessed a vehicle and has paid all personal property taxes that were due by the preceding October 15. Upon receipt of the notification, the secretary shall renew the vehicle license.
(b) Notification by the county assessor and the county collector under subsection (a) of this section shall be in the form of an electronic notation placed on or removed from the Department of Finance and Administration's vehicle license record by the county assessor and the county collector denoting that the vehicle has been assessed and that the vehicle owner does not owe delinquent personal property taxes.
(c) As used in this section, “vehicle owner” means, for purposes of a motor vehicle that is leased pursuant to a contract providing for the use of the motor vehicle by the lessee for a period of more than thirty (30) days, the lessee of the motor vehicle.