Text: HF02412 Text: HF02414 Text: HF02400 - HF02499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 321.69, subsections 2 and 3, Code 1 2 Supplement 1997, are amended to read as follows: 1 3 2. The damage disclosure statement required by this 1 4 section shall, at a minimum, state the total retail dollar 1 5 amount of all damage to the vehicle during the period of the 1 6 transferor's ownership of the vehicle and whether the 1 7 transferor knows if the vehicle was titled as a salvage or 1 8 flood vehicle in this or any other state prior to the 1 9 transferor's ownership of the vehicle. For the purposes of 1 10 this section, "damage" refers to damage to the vehicle caused 1 11 by fire, vandalism, collision, weather, falling objects, 1 12 submersion in water, or flood, where the cost of repair is 1 13threefive thousand dollars or more per incident, but does not 1 14 include normal wear and tear, glass damage, mechanical repairs 1 15 or electrical repairs that have not been caused by fire, 1 16 vandalism, collision, weather, falling objects, submersion in 1 17 water, or flood. "Damage" does not include the cost of 1 18 repairing, replacing, or reinstalling tires, lights, 1 19 batteries, or an inflatable restraint system. A determination 1 20 of the amount of damage to a vehicle shall be based on 1 21 estimates of the retail cost of repairing the vehicle, 1 22 including labor, parts, and other materials, if the vehicle 1 23 has not been repaired or on the actual retail cost of repair, 1 24 including labor, parts, and other materials, if the vehicle 1 25 has been repaired. Only individual incidents in which the 1 26 retail cost of repairs isthreefive thousand dollars or more 1 27 are required to be disclosed by this section. If the vehicle 1 28 has incurred damage ofthreefive thousand dollars or more per 1 29 incident in more than one incident, the damage amounts must be 1 30 combined and disclosed as the total of all separate incidents. 1 31 3. The damage disclosure statement shall be provided by 1 32 the transferor to the transferee at or before the time of 1 33 sale. If the transferor is not a resident of this state the 1 34 transferee shall not be required to submit a damage disclosure 1 35 statement from the transferor with the transferee's 2 1 application for title unless the state of the transferor's 2 2 residence requires a damage disclosure statement. However, 2 3 the transferee shall submit a damage disclosure statement with 2 4 the transferee's application for title indicating whether a 2 5 salvage or rebuilt title had ever existed for the vehicle, 2 6 whether the vehicle had incurred prior damage ofthreefive 2 7 thousand dollars or more per incident, and the year, make, and 2 8 vehicle identification number of the motor vehicle. The 2 9 transferee shall not be required to indicate whether the 2 10 vehicle had incurred prior damage ofthreefive thousand 2 11 dollars or more per incident under this subsection if the 2 12 transferor's certificate of title is from another state and if 2 13 it indicates that the vehicle is salvaged and not rebuilt or 2 14 is another state's salvage certificate of title. 2 15 EXPLANATION 2 16 Current law requires a transferor of a motor vehicle to 2 17 provide a damage disclosure statement to the transferee 2 18 indicating the costs of repair to the vehicle if a single 2 19 damage amount exceeded $3,000. The law provides that normal 2 20 wear and tear need not be included in calculating the damage 2 21 amount. 2 22 This bill changes the threshold damage amount from $3,000 2 23 to $5,000. The bill further provides that when calculating 2 24 the damage amount, the transferor does not need to include the 2 25 cost to repair or replace tires, lights, and batteries. 2 26 LSB 3652HV 77 2 27 jm/sc/14
Text: HF02412 Text: HF02414 Text: HF02400 - HF02499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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