SB 821 Modifies the definition of "salvage vehicle"
Sponsor: Griesheimer
LR Number: 3935S.01I Fiscal Note: 3935-01
Committee: Transportation
Last Action: 3/15/2006 - Removed S Consent Calendar Journal Page: S496
Title: Calendar Position:
Effective Date: August 28, 2006

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Current Bill Summary

SB 821 - Under the current law, the definition of salvage vehicle includes a motor vehicle that has been damaged to the extent that the cost of repairs to rebuild it exceeds 75% of the fair market value of the vehicle. This act changes the damage threshold from 75% to 80%. In addition, this act restricts the 80% damage threshold to vehicles which have a manufacturer's model year designation of or later than the year in which the vehicle was damaged or any of the three preceding years.