summary
Introduced
01/18/2017
01/18/2017
In Committee
02/09/2017
02/09/2017
Crossed Over
02/12/2017
02/12/2017
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 (the Department) within 48 hours. It also requires the Department to establish and maintain an electronic system that allows auto recyclers to verify whether a motor vehicle has been reported as stolen prior to purchase. The bill imposes a $1,000 fine for each failure by a purchaser to report to the Department as required. Additionally, the bill amends the definition of "auto recycler" in the Motor Vehicle Code to include those who acquire or own salvage, nonrepairable, or registered vehicles for the purpose of dismantling, wrecking, or destroying them. The bill takes effect on July 1, 2017.
Committee Categories
Business and Industry, Justice, Transportation and Infrastructure
Sponsors (2)
Last Action
[LD 13] Do pass committee report adopted (on 01/29/2017)
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=139&year=17 |
| BillText | http://www.nmlegis.gov/Sessions/17%20Regular/bills/senate/SB0139.pdf |
Loading...