They had this in Minneapolis when I was growing up. I never complied with it even though the cops would occasionally block the road and confiscate unlicensed bikes from under you. You could spot the roadblocks a block or two away. I once saw it a bit late and ducked into an alleyway about a quarter block short of the roadblock. A cop was looking right at me and looked like he was going to yell at me to stop, but his expression quickly turned to "why bother?" and he didn't say anything.
Everywhere in the US that has done this as anything more than a glorified sales tax on new bikes has found it to be a big money loser. Enforcement is damn near impossible.