SB1262C-SALVAGE MOTOR VEHICLES
Summary of the House Committee Version of the Bill

SCS SB 1262 -- SALVAGE MOTOR VEHICLES

SPONSOR:  Dolan (Engler)

COMMITTEE ACTION:  Voted "do pass" by the Committee on
Transportation and Motor Vehicles by a vote of 18 to 2.

This substitute changes the definition of "salvage vehicle" to
include any motor vehicle, semitrailer, or house trailer which
has been damaged to the extent that the total cost of repairs to
rebuild the vehicle to its condition immediately before it was
damaged exceeds 75% of the fair market value prior to the damage.
The substitute defines "fair market value."  The total cost of
repairs to rebuild or reconstruct a vehicle will not include the
cost of repairing, replacing, or reinstalling inflatable safety
restraints, tires, sound systems, or any sales tax on parts or
material.  Salvage titles may be negotiable with one reassignment
on the back of the title by a registered dealer or an insurance
company.

FISCAL NOTE:  No impact on state funds in FY 2005, FY 2006, and
FY 2007.

PROPONENTS:  Supporters say the bill will clarify the procedures
on salvage titles.

Testifying for the bill were Senator Dolan; Enterprise Rent-A-Car
Company; and Missouri Insurance Coalition.

OPPONENTS:  There was no opposition voiced to the committee.

Robert Triplett, Legislative Analyst

Copyright (c) Missouri House of Representatives

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Missouri House of Representatives
92nd General Assembly, 2nd Regular Session
Last Updated September 23, 2004 at 11:16 am