Illinois General Assembly - Full Text of HB4296
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Full Text of HB4296  94th General Assembly



HB4296 Engrossed LRB094 15908 DRH 51132 b

1     AN ACT concerning transportation.
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4     Section 5. The Illinois Vehicle Code is amended by adding
5 Section 3-122 as follows:
6     (625 ILCS 5/3-122 new)
7     Sec. 3-122. Reporting of salvaged vehicles and certain
8 repaired vehicles.
9     (a) Any insurance company that pays the repair costs for a
10 vehicle, if (i) those costs exceed 75% of the fair market value
11 of the vehicle and (ii) the insurance company recommends to its
12 customer a third party who will purchase the vehicle, must
13 report to the Secretary of State, within 30 days of making that
14 recommendation, the vehicle identification number of that
15 vehicle.
16     (b) The Secretary shall assemble and make available to the
17 National Insurance Crime Bureau a listing of:
18         (1) the vehicle identification numbers for all salvage
19     titles that the Secretary's office receives on and after
20     the effective date of this amendatory Act of the 94th
21     General Assembly; and
22         (2) all vehicle identification numbers reported to the
23     Secretary under subsection (a).
24     (c) The Secretary shall adopt rules for implementing this
25 Section.