Bill Text: IA HF381 | 2021-2022 | 89th General Assembly | Introduced
Bill Title: A bill for an act relating to wrecked or salvage motor vehicles.(Formerly HSB 81.)
Spectrum: Committee Bill
Status: (Introduced - Dead) 2021-02-16 - Withdrawn. H.J. 437. [HF381 Detail]
Download: Iowa-2021-HF381-Introduced.html
House
File
381
-
Introduced
HOUSE
FILE
381
BY
COMMITTEE
ON
TRANSPORTATION
(SUCCESSOR
TO
HSB
81)
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
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H.F.
381
Section
1.
Section
321.52,
subsection
4,
paragraph
e,
Code
1
2021,
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
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
2021,
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
percent
of
the
12
fair
market
value
of
the
vehicle
before
it
the
vehicle
became
13
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
70
percent
of
the
fair
market
value
of
the
vehicle.
22
By
operation
of
law,
the
bill
affects
the
definition
of
23
“salvage
pool”
under
Code
chapter
321,
the
circumstances
24
under
which
a
salvage
certificate
of
title
is
required
under
25
Code
section
321.52,
the
circumstances
under
which
a
damage
26
disclosure
statement
under
Code
section
321.69
is
required
27
to
indicate
damage
to
a
vehicle
on
the
vehicle’s
certificate
28
of
title,
and
the
prohibited
actions
relating
to
vehicle
29
rebuilding
and
restoration
under
Code
section
321H.3.
30
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