Senate
Study
Bill
1148
-
Introduced
SENATE
FILE
_____
BY
(PROPOSED
COMMITTEE
ON
TRANSPORTATION
BILL
BY
CHAIRPERSON
KAPUCIAN)
A
BILL
FOR
An
Act
relating
to
wrecked
or
salvage
motor
vehicles.
1
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
2
TLSB
2244SC
(1)
88
ns/rh
S.F.
_____
Section
1.
Section
321.52,
subsection
4,
paragraph
e,
Code
1
2019,
is
amended
to
read
as
follows:
2
e.
For
purposes
of
this
subsection
,
“wrecked
or
salvage
3
vehicle”
means
a
damaged
motor
vehicle
subject
to
registration
4
for
which
the
cost
of
repair
exceeds
fifty
seventy-five
percent
5
of
the
fair
market
value
of
the
vehicle,
as
determined
in
6
accordance
with
rules
adopted
by
the
department,
before
it
the
7
vehicle
became
damaged.
8
Sec.
2.
Section
321H.2,
subsection
12,
Code
2019,
is
amended
9
to
read
as
follows:
10
12.
“Wrecked
or
salvage
vehicle”
means
a
damaged
vehicle
for
11
which
the
cost
of
repair
exceeds
fifty
seventy-five
percent
12
of
the
fair
market
value
of
the
vehicle
before
it
the
vehicle
13
became
damaged.
14
EXPLANATION
15
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
16
the
explanation’s
substance
by
the
members
of
the
general
assembly.
17
Under
current
law,
a
wrecked
or
salvage
vehicle
is
a
damaged
18
vehicle
for
which
the
cost
of
repair
exceeds
50
percent
of
the
19
fair
market
value
of
the
vehicle
before
the
vehicle
became
20
damaged.
This
bill
increases
the
cost
of
repair
threshold
to
21
75
percent
of
the
fair
market
value
of
the
vehicle.
22
-1-
LSB
2244SC
(1)
88
ns/rh
1/
1