summary
Introduced
01/18/2017
01/18/2017
In Committee
01/22/2017
01/22/2017
Crossed Over
Passed
Dead
03/18/2017
03/18/2017
Introduced Session
2017 Regular Session
Bill Summary
AN ACT RELATING TO MOTOR VEHICLES; REQUIRING AUTO RECYCLERS TO ELECTRONICALLY REPORT ALL MOTOR VEHICLE PURCHASES TO THE TAXATION AND REVENUE DEPARTMENT; REQUIRING THE TAXATION AND REVENUE DEPARTMENT TO ESTABLISH, MAINTAIN AND MAKE AVAILABLE CERTAIN INFORMATION; PROVIDING PENALTIES.
AI Summary
This bill requires auto recyclers to electronically report all motor vehicle purchases to the Taxation and Revenue Department within 48 hours. The bill also requires the Taxation and Revenue Department to establish and maintain an electronic system that allows auto recyclers to verify if a vehicle has been reported stolen before completing a purchase. The department must forward the information received to the National Motor Vehicle Title Information System. Failure to report a purchase as required can result in a fine of $1,000 for each violation.
Committee Categories
Business and Industry, Justice
Sponsors (3)
Last Action
[LD 6] Referred to House Judiciary (on 01/22/2017)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=177&year=17 |
| BillText | http://www.nmlegis.gov/Sessions/17%20Regular/bills/house/HB0177.pdf |
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