(1)    The applicant for registration of an automobile or motor truck having a registered weight of 8,000 pounds or less under the system of registration prescribed by s. 341.27 shall pay in full the annual registration fee prescribed by law, except as otherwise provided in this section.

   (2)   If the applicant for registration holds current registration plates that were removed from an automobile or motor truck having a registered weight of 8,000 pounds or less that the applicant no longer owns or that has been junked, is no longer being used on the highways, or has been registered as a special interest vehicle under s. 341.266 (2) (a) or a reconstructed, replica, street modified, or homemade vehicle under s. 341.268 (2) (a), the plates were issued under the system of registration prescribed by s. 341.27, and the application is for registration of the same type of vehicle, the applicant is exempt from the payment of a registration fee, except in the following cases:

      (a)    If the annual fee prescribed for the automobile or motor truck having a registered weight of 8,000 pounds or less being registered is higher than the annual fee prescribed for the automobile or motor truck having a registered weight of 8,000 pounds or less from which the plates were removed, the applicant shall pay a fee computed on the basis of one-twelfth of the difference between the 2 annual fees multiplied by the number of months for which the automobile or motor truck having a registered weight of 8,000 pounds or less that is the subject of the application is being registered. The start of the new registration, for the purpose of computing the fee, shall be determined in accordance with sub. (7).

      (b)    If the automobile or motor truck having a registered weight of 8,000 pounds or less that is the subject of the application was owned by the applicant at any time during the month in which the transfer, termination of the consumer lease, discontinuance of use on the highways, junking, or registration under s. 341.266 (2) (a) or 341.268 (2) (a) of the other automobile or motor truck having a registered weight of 8,000 pounds or less occurred and was not currently registered at the time of the transfer, termination of the consumer lease, discontinuance of use on the highways, junking, or registration under s. 341.266 (2) (a) or 341.268 (2) (a), the applicant shall pay a fee to be computed as provided in subs. (3) to (5) but shall receive a credit for the unused portion of the current registration. The credit shall be computed on the basis of one-twelfth of the annual fee paid for the vehicle from which the plates were removed multiplied by the number of months remaining in the registration period represented by the removed plates, including the month during which the applicant transferred, discontinued to use on the highways, junked, or registered under s. 341.266 (2) (a) or 341.268 (2) (a) or terminated the consumer lease of the automobile or motor truck having a registered weight of 8,000 pounds or less from which the plates were removed.

   (3)   If the applicant does not hold current registration plates under the circumstances described in sub. (2) and the automobile or motor truck having a registered weight of 8,000 pounds or less that is the subject of the application has not previously been registered in this state by the applicant, the fee payable by the applicant shall be computed on the basis of one-twelfth of the annual fee multiplied by the number of months for which the automobile or motor truck having a registered weight of 8,000 pounds or less is being registered, with the start of the registration period to be determined in accordance with sub. (7). If the registration period begins on a date other than the first day of a month, the department shall disregard the initial partial month in calculating the fee under this subsection.

   (4)   If the applicant does not hold current registration plates under the circumstances described in sub. (2) but the automobile or motor truck having a registered weight of 8,000 pounds or less that is the subject of the application has previously been registered in this state by the applicant, the applicant shall pay a fee covering all the time since the end of the period for which the automobile or motor truck having a registered weight of 8,000 pounds or less previously was registered unless any of the following applies:

      (a)    The automobile or motor truck having a registered weight of 8,000 pounds or less in the meantime has been owned by another person or registered in another state.

      (b)    At least 12 months have elapsed since the end of the period for which the automobile or motor truck having a registered weight of 8,000 pounds or less previously was registered and the applicant filed with the department a statement that the applicant did not during those 12 months operate or consent to the operation of the automobile or motor truck having a registered weight of 8,000 pounds or less under circumstances making the automobile or motor truck having a registered weight of 8,000 pounds or less subject to registration in this state.

      (c)    The automobile or motor truck having a registered weight of 8,000 pounds or less is owned by a person who has been in active military service or who is a member of the U.S. foreign service appointed under 22 U.S. Code § 3942 (a) (1) or 3943 who has been in active service and less than 12 months of nonoperation have elapsed since the end of the period for which the automobile or motor truck having a registered weight of 8,000 pounds or less was previously registered, provided the applicant files with the department a statement of nonoperation.

   (5)   Under the circumstances described in sub. (4), the fee payable by the applicant shall be computed as prescribed in sub. (3) for an automobile or motor truck having a registered weight of 8,000 pounds or less that was not previously registered by the applicant in this state, provided that he or she first files with the department a statement of nonoperation if required to do so by sub. (7).

   (6)   If the automobile or motor truck having a registered weight of 8,000 pounds or less being registered under the circumstances described in sub. (3) or (4) is a replacement for a registered vehicle that has been junked, the applicant is entitled to a credit to be computed and applied in accordance with s. 341.31 (2) (b).

   (7)   For the purpose of computing the registration fee payable upon registration of an automobile or motor truck having a registered weight of 8,000 pounds or less under circumstances described in subs. (2) to (4), the beginning of the current registration period shall be determined as follows:

      (a)    The registration period for an automobile or motor truck having a registered weight of 8,000 pounds or less commences on the day on which the first operation of the automobile or motor truck having a registered weight of 8,000 pounds or less under circumstances making the owner liable for its registration in this state occurs. For purposes of this paragraph, “first operation” means operation of an automobile or motor truck having a registered weight of 8,000 pounds or less for the first time after it was transferred or leased to the applicant or after it was registered in another state or after an active service refund or after the expiration of 12 months of nonoperation since expiration of the last registration in this state or after it was no longer used on the highways.

      (b)    In the case of an automobile or motor truck having a registered weight of 8,000 pounds or less that has not previously been registered or that has not been registered in this state by the present owner since the owner last acquired ownership of the automobile or motor truck having a registered weight of 8,000 pounds or less, the department shall assume that the date of first operation within the meaning of par. (a) is the date of the bill of sale evidencing the transfer of ownership to the applicant or, with respect to a leased vehicle, the date of commencement of the lease by the applicant, unless the applicant files with the department a statement that the automobile or motor truck having a registered weight of 8,000 pounds or less was not operated until a later date, specifying the date of first operation. In the case of at least 12 months of nonoperation of an automobile or motor truck having a registered weight of 8,000 pounds or less previously registered by the applicant, the applicant shall file with the department a statement that he or she did not operate or consent to the operation of the automobile or motor truck having a registered weight of 8,000 pounds or less under circumstances making it subject to registration in this state during the 12-month period and shall specify the date following that period when the automobile or motor truck having a registered weight of 8,000 pounds or less was first operated. The department may refuse to accept a statement that projects the date of first operation into the future.