The Department of Motor Vehicles may issue a "Historic" special motor vehicle license plate for use on a private passenger carrying motor vehicle, as defined in § 56-3-630, or a motorcycle as defined in § 56-3-20, that is twenty-five years of age or older at the time of applying for the special plate. The applicant for a "Historic" license plate must be the owner of the motor vehicle or motorcycle and must be a resident of this State.