Imposes an additional fee of one hundred dollars at the time of initial vehicle registration and annual registration renewal for electric vehicles in order to mitigate the impacts of the diminishing motor vehicle fuel tax. The bill provides an exemption for vehicles that do not travel faster than 35 miles per hour. The fee is effective on vehicle registrations that are due on or after March 1, 2012. The bill provides for the distribution of revenues, after collections reach $1 million: 70 percent to the motor vehicle fund, 15 percent to the transportation improvement account, and 15 percent to the rural arterial preservation account. The fee is repealed if a vehicle miles traveled tax or fee is imposed.