Bill Text: IA SSB1232 | 2015-2016 | 86th General Assembly | Introduced
Bill Title: A study bill for an act relating to registration fees for, and security interests on, motor vehicles, and providing penalties.
Spectrum: Unknown
Status: (Introduced - Dead) 2015-02-26 - Transportation: Bowman Chair,Danielson, and Feenstra. [SSB1232 Detail]
Download: Iowa-2015-SSB1232-Introduced.html
Senate
Study
Bill
1232
-
Introduced
SENATE
FILE
_____
BY
(PROPOSED
COMMITTEE
ON
TRANSPORTATION
BILL
BY
CHAIRPERSON
BOWMAN)
A
BILL
FOR
An
Act
relating
to
registration
fees
for,
and
security
1
interests
on,
motor
vehicles,
and
providing
penalties.
2
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3
TLSB
2384SC
(2)
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S.F.
_____
Section
1.
Section
321.50,
subsection
5,
paragraph
a,
Code
1
2015,
is
amended
to
read
as
follows:
2
a.
When
a
security
interest
is
discharged,
the
holder
shall
3
note
a
cancellation
of
the
security
interest
on
the
face
of
the
4
certificate
of
title
over
the
holder’s
signature
and
deliver
5
the
certificate
of
title
to
the
county
treasurer
where
the
6
title
was
issued.
In
the
case
of
a
security
interest
that
has
7
been
delivered
by
electronic
means,
the
holder
shall
notify
8
the
department
or
the
county
treasurer,
in
a
manner
prescribed
9
by
the
department,
of
the
release
of
the
security
interest.
10
The
county
treasurer
shall
immediately
note
the
cancellation
11
of
the
security
interest
on
the
face
of
the
certificate
of
12
title,
if
applicable,
and
in
the
county
records
system.
The
13
county
treasurer
shall
on
the
same
day
deliver
the
certificate
14
of
title,
if
applicable,
to
the
then
first
secured
party
or,
15
if
there
is
no
such
person,
to
the
person
as
directed
by
the
16
owner,
in
writing,
on
a
form
prescribed
by
the
department
or,
17
if
there
is
no
person
designated,
then
to
the
owner.
The
18
cancellation
of
the
security
interest
shall
be
noted
on
the
19
certificate
of
title
by
the
county
treasurer
without
charge.
20
The
holder
of
a
security
interest
discharged
by
payment
who
21
fails
to
release
the
security
interest
within
fifteen
days
22
after
being
requested
in
writing
to
do
so
shall
forfeit
to
the
23
person
making
the
payment
the
sum
of
twenty-five
five
hundred
24
dollars.
25
Sec.
2.
Section
321.70,
Code
2015,
is
amended
to
read
as
26
follows:
27
321.70
Dealer
vehicles.
28
A
dealer
registered
under
this
chapter
shall
not
be
required
29
to
register
any
vehicle
owned
by
the
dealer
which
is
being
held
30
for
sale
or
trade,
provided
the
annual
registration
fee
was
not
31
delinquent
at
the
time
the
vehicle
was
acquired
by
the
dealer.
32
When
a
dealer
ceases
to
hold
any
vehicle
for
sale
or
trade
or
33
the
vehicle
otherwise
becomes
subject
to
registration
under
34
this
chapter
,
the
annual
registration
fee
and
delinquent
annual
35
-1-
LSB
2384SC
(2)
86
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1/
3
S.F.
_____
registration
fee,
if
any,
shall
be
due
for
the
registration
1
year.
However,
a
dealer
is
not
required
to
pay
a
delinquent
2
annual
registration
fee,
or
a
penalty
on
a
delinquent
annual
3
registration
fee,
due
on
a
vehicle
acquired
by
the
dealer
4
through
a
wholesale
auction
that
is
accompanied
by
an
affidavit
5
stating
that
the
vehicle
was
repossessed
because
of
the
failure
6
of
the
previous
owner
to
meet
a
legal
obligation
involving
the
7
vehicle.
8
Sec.
3.
Section
321.105A,
subsection
5,
Code
2015,
is
9
amended
by
adding
the
following
new
paragraph:
10
NEW
PARAGRAPH
.
0a.
A
licensed
vehicle
dealer
maintaining
a
11
place
of
business
in
this
state
who
sells
a
vehicle
subject
to
12
registration
for
use
in
this
state
shall
collect
the
fee
for
13
new
registration,
and
the
fee
for
listed
security
interests
14
pursuant
to
section
321.50,
subsection
1,
at
the
time
of
making
15
the
sale.
A
dealer
required
to
collect
the
fees
shall
give
to
16
the
purchaser
a
receipt
for
the
fees
in
the
manner
and
form
17
prescribed
by
the
director.
Fees
collected
by
a
dealer
under
18
this
paragraph
“0a”
shall
be
forwarded
to
the
county
treasurer,
19
along
with
the
application
for
certificate
of
title,
where
20
applicable.
21
Sec.
4.
Section
805.8A,
subsection
2,
paragraph
s,
Code
22
2015,
is
amended
to
read
as
follows:
23
s.
Section
321.104
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
$100
$500
.
24
EXPLANATION
25
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
26
the
explanation’s
substance
by
the
members
of
the
general
assembly.
27
This
bill
relates
to
registration
fees
for,
and
security
28
interests
on,
motor
vehicles.
29
Under
current
law,
the
holder
of
a
security
interest
on
30
a
motor
vehicle
discharged
by
payment
who
fails
to
release
31
the
security
interest
within
15
days
after
being
requested
in
32
writing
to
do
so
must
forfeit
$25
to
the
person
making
the
33
payment.
The
bill
increases
the
amount
of
the
payment
to
$500.
34
Current
law
provides
that
a
dealer
shall
not
be
required
to
35
-2-
LSB
2384SC
(2)
86
ns/nh
2/
3
S.F.
_____
register
any
vehicle
owned
by
the
dealer
which
is
being
held
1
for
sale
or
trade,
provided
the
annual
registration
fee
was
2
not
delinquent
at
the
time
the
vehicle
was
acquired
by
the
3
dealer.
When
a
dealer
ceases
to
hold
any
vehicle
for
sale
or
4
trade
or
the
vehicle
otherwise
becomes
subject
to
registration,
5
the
annual
registration
fee
and
delinquent
annual
registration
6
fee,
if
any,
shall
be
due
for
the
registration
year.
The
bill
7
provides
that
a
dealer
is
not
required
to
pay
a
delinquent
8
annual
registration
fee,
or
a
penalty
on
a
delinquent
annual
9
registration
fee,
due
on
a
vehicle
acquired
by
the
dealer
10
through
a
wholesale
auction
that
is
accompanied
by
an
affidavit
11
stating
that
the
vehicle
was
repossessed
because
of
the
failure
12
of
the
previous
owner
to
meet
a
legal
obligation
involving
the
13
vehicle.
14
The
bill
requires
motor
vehicle
dealers
who
sell
a
vehicle
15
subject
to
registration
for
use
in
Iowa
to
collect
the
fee
for
16
new
registration
and
the
fee
for
listed
security
interests
at
17
the
time
of
making
the
sale.
A
dealer
required
to
collect
the
18
fees
shall
give
to
the
purchaser
a
receipt
for
the
fees
in
the
19
manner
and
form
prescribed
by
the
director
of
transportation.
20
Fees
collected
by
a
dealer
in
this
way
shall
be
forwarded
21
to
the
county
treasurer,
along
with
the
application
for
22
certificate
of
title,
where
applicable.
23
Current
law
provides
that
a
person
shall
not
sell,
offer
24
for
sale,
or
transfer
a
motor
vehicle
without
obtaining
a
25
certificate
of
title
in
the
name
of
the
seller
or
transferor
26
or
delivering
to
the
purchaser
or
transferee
a
certificate
27
of
title
or
a
manufacturer’s
or
importer’s
certificate
duly
28
assigned
to
the
purchaser
or
transferee.
The
scheduled
fine
29
for
a
violation
of
this
provision
is
$100.
The
bill
increases
30
the
scheduled
fine
to
$500.
31
-3-
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2384SC
(2)
86
ns/nh
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