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HF 757

as introduced - 92nd Legislature (2021 - 2022) Posted on 02/04/2021 03:09pm

KEY: stricken = removed, old language.
underscored = added, new language.

Bill Text Versions

Engrossments
Introduction Posted on 02/04/2021

Current Version - as introduced

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A bill for an act
relating to motor vehicles; modifying the class of vehicles requiring a salvage
certificate of title; appropriating money; amending Minnesota Statutes 2020, section
168A.151, subdivision 1.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2020, section 168A.151, subdivision 1, is amended to read:


Subdivision 1.

Salvage titles.

(a) When an insurer, licensed to conduct business in
Minnesota, acquires ownership of a deleted text beginlate-model or high-valuedeleted text end vehicle through payment of
damages, the insurer shall immediately apply for a salvage certificate of title or shall stamp
the existing certificate of title with the legend "SALVAGE CERTIFICATE OF TITLE" in
a manner prescribed by the department. Within ten days of obtaining the title of a vehicle
through payment of damages, an insurer must notify the department in a manner prescribed
by the department.

(b) A person shall immediately apply for a salvage certificate of title if the person acquires
a damaged deleted text beginlate-model or high-valuedeleted text end vehicle with an out-of-state title and the vehicle:

(1) is a vehicle that was acquired by an insurer through payment of damages;

(2) is a vehicle for which the cost of repairs exceeds the value of the damaged vehicle;
or

(3) has an out-of-state salvage certificate of title as proof of ownership.

(c) A self-insured owner of a deleted text beginlate-model or high-valuedeleted text end vehicle that sustains damage by
collision or other occurrence which exceeds 80 percent of its actual cash value shall
immediately apply for a salvage certificate of title.

new text begin (d) A person who retains ownership of a late-model or high-value motor vehicle and
receives a total loss settlement from an insurance company, shall immediately apply for a
salvage certificate of title.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective January 1, 2023, and applies to: (1) a
vehicle subject to this section that is acquired on or after that date; (2) a vehicle that sustains
damage by collision as described in paragraph (c) on or after that date; or (3) a vehicle for
which a person receives a total loss settlement as described in paragraph (d) on or after that
date.
new text end

Sec. 2. new text beginAPPROPRIATION.
new text end

new text begin $441,000 is appropriated in fiscal year 2022 from the vehicle services operating account
in the special revenue fund to the commissioner of public safety for the costs of two additional
vehicle inspection sites, including the costs of equipment and staff. The base appropriation
for this purpose is $395,000 in fiscal year 2023.
new text end