⌛ As TLC Plate Storage Ends, Scramble To Keep FHV Licenses Active
With only weeks left to remove stored TLC Plates, some fleet owners & individuals scramble to keep FHV License(s) active. TLC has given sufficient warning & is planning to launch new program soon
Only a few weeks remain until the NYC Taxi & Limousine Commission winds down pandemic era TLC Plate storage program
TLC reported 4,724 FHV Licenses were in storage, last July. Many were likely removed over past year
*NEW* storage program will be discussed during August 23rd TLC Commission meeting
Market chatter implies some are now scrambling to remove stored TLC Plates
With about a month left until the pandemic era FHV License (a/k/a TLC Plate) storage program ends, it appears some small to medium-sized fleets & individual drivers are scrambling to avoid losing their TLC Plates permanently. To be fair to the Taxi & Limousine Commission, the regulator has given adequate notice to TLC fleets and drivers regarding the now rapidly approaching August 31st deadline to remove FHV Licenses from storage.
As a reminder, the storage program created a mechanism where drivers and fleets could keep their TLC Plates active without having to pay expensive commercial insurance premiums. Since the FHV License Pause (a/k/a TLC Plate Cap) passed in August 2018, if a driver or fleet lost their TLC Plates due to an insurance lapse, there would be no easy way for them to recover an expired for-hire vehicle license.
For reference, based on the last TLC disclosure (as of July 2022), 4,724 FHV Licenses were in storage. However, many have likely been removed since last July.
Scramble to Remove TLC Plates From Storage
Based on several conversations and interactions we’ve had, there seems to be dynamic where small to medium-sized TLC fleets (i.e., less than 150 TLC Plates) are rushing to remove stored vehicle licenses. For example, a listing in TLCRentalMarketplace.com is a good illustration of this dynamic. In one of their listings, the owner of a fleet that has 127 TLC Plates in storage, seems to be rushing to find a fleet manager to help them re-activate their licenses before August 31st.
Another public example can be seen in a very recent interaction we had on our YouTube channel. A driver with previous E-ZPass issues was interested in removing their stored TLC Plates, although time is now running out.
New “Short Term” TLC Plate Storage Program
Another noteworthy development re. FHV License Storage was the announcement of a TLC hearing to take place at 10am on Wednesday, August 23rd. During this hearing, the TLC is proposing rules around a new “Short-Term FHV Storage Program” and to clarify TLC Plates from the original storage program will not transfer over to the new program.
As always, let us know your thoughts in the comments section below or by emailing us at info@automarketplace.com.
AutoMarketplace NYC covers the for-hire transportation industry and automotive news. Check out AutoMarketplace on YouTube ▶️
Is it possible for for someone to claim one of the tlc plates in storage if the original owner dosent?