Bill > LB490

This bill modifies the Motor Vehicle Certificate of Title Act to expand the types of vehicles and equipment that can be issued a certificate of title, with a particular focus on agricultural and utility-related equipment. Specifically, the bill allows owners of utility trailers, certain self-propelled agricultural equipment, and power unit hay grinders to apply for certificates of title starting January 1, 2026. The bill also establishes provisions for how existing security interests in these devices will be handled during the transition, ensuring that liens previously perfected under the Uniform Commercial Code will maintain their priority and can be transferred to the new certificate of title system. The changes aim to provide more clarity and protection for equipment owners and lienholders by creating a standardized titling process for these previously untitled types of equipment. The bill includes detailed provisions for surrendering existing documentation, noting liens, and maintaining the original priority of security interests when transitioning to the new titling system. Additionally, the bill updates several sections of Nebraska's statutes related to vehicle titles, including how liens are recorded, transferred, and maintained in both physical and electronic formats.

Transportation and Infrastructure

https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=59620