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HB16-1293

Total Loss Brand Title Motor Vehicle

Concerning the addition of a brand to designate a certificate of title to a motor vehicle that has been the subject of an insurance claim, and, in connection therewith, making an appropriation.
Session:
2016 Regular Session
Subjects:
Business & Economic Development
Transportation & Motor Vehicles
Bill Summary

Currently, a motor vehicle title is branded when certain events that negatively affect the vehicle's title occur. The bill adds a total loss brand when the motor vehicle has been:
  • Found to need repairs whose cost exceeds the value of the vehicle; or
  • Designated as a total loss by an insurer under the terms of its policy as a result of the vehicle being damaged.

The bill clarifies that a motor vehicle that is designated as a total loss and also qualifies as a salvage vehicle will be branded as a salvage vehicle.

When the department of revenue issues a new title with the total loss or salvage brand, it also notifies the owner and senior lienholder.

Collector's item and street rod vehicles are exempt.

$97,142 is appropriated to the department of revenue from the Colorado state titling and registration account in the highway users tax fund to implement the bill.

(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Status

Introduced
Lost

Bill Text

Sponsors

Sponsor Type Legislators
Prime Sponsor

Rep. J. Melton
Sen. C. Holbert

Sponsor

Co-sponsor

Rep. C. Duran, Rep. D. Primavera, Rep. M. Tyler