(a) Notwithstanding any other provision of this subtitle, the Administration may adopt a system of multiyear registration.

(b) Vehicle registration plates or validation tabs shall be issued and displayed in accordance with a schedule established by the Administrator.

(c) The fee for a multiyear registration is the same as the annual registration fee established under this title multiplied by the number of years for which the registration is issued.

(d) The Administration shall refund the registration fees upon surrender of the registration card and registration plates if the return is made before the beginning of any 12-month registration year for which the application for refund is made.

(e) The Administration may adopt regulations to carry out the provisions of this section.