Bill Status of SB2496 94th General Assembly
Short Description: VEH CD-JUNKING CERTIFICATES
Sen. Terry Link
| 1/9/2007||Senate||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Vehicle Code with regard to when junking certificates or salvage certificates must be obtained. Provides that a vehicle that has been repossessed by a lienholder shall be considered to be salvage only when the cost of repairing the damage to the vehicle would be greater than 50% (rather than greater than 33 1/3%) of its fair market value. Makes corresponding changes with regard to obtaining a salvage certificate and the disposition of the vehicle. Makes similar changes with regard to when a vehicle that is part of a fleet of more than 5 commercial vehicles or a vehicle that has been submerged in water is to be considered salvage.
|Date||Chamber|| Action|| 1/18/2006||Senate||Filed with Secretary by Sen. Terry Link|| 1/18/2006||Senate||First Reading|| 1/18/2006||Senate||Referred to Rules|| 1/9/2007||Senate||Session Sine Die|