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

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.

STEPHEN WITTE

Amendments