Sunset Process - Senate Business, Labor, and Technology Committee. The bill implements many of the recommendations of the department of regulatory agencies, as contained in the department's sunset review of motor vehicle and powersports vehicle sellers, as follows:
- Continues the regulation of motor vehicle and powersports vehicle sales until September 1, 2027;
- Codifies the auto industry division in statute under the department of revenue and changes the authority to enforce the regulation of the licensing of vehicle sellers from the executive director of the department of revenue to the director of the division;
- Requires a licensing application when a business acquires a new owner;
- Subjects the license of a dealer to discipline when the owner is acting as a salesperson and violates the law governing salespersons;
- Requires a fingerprint-based criminal history record check for all licensees; and
- Requires people who have had licenses revoked to wait one year before applying for a new license.
To implement the bill, $12,568 is appropriated from the auto dealers license fund to the department of revenue, and $162,983 is appropriated from the Colorado bureau of investigation unit fund to the department of public safety.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)