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HB16-1293

Total Loss Brand Title Motor Vehicle

Concerning the addition of a brand to designate a certificate of title to a motor vehicle that has been the subject of an insurance claim, and, in connection therewith, making an appropriation.
Session:
2016 Regular Session
Subjects:
Business & Economic Development
Transportation & Motor Vehicles
Bill Summary

Currently, a motor vehicle title is branded when certain events that negatively affect the vehicle's title occur. The bill adds a total loss brand when the motor vehicle has been:
  • Found to need repairs whose cost exceeds the value of the vehicle; or
  • Designated as a total loss by an insurer under the terms of its policy as a result of the vehicle being damaged.

The bill clarifies that a motor vehicle that is designated as a total loss and also qualifies as a salvage vehicle will be branded as a salvage vehicle.

When the department of revenue issues a new title with the total loss or salvage brand, it also notifies the owner and senior lienholder.

Collector's item and street rod vehicles are exempt.

$97,142 is appropriated to the department of revenue from the Colorado state titling and registration account in the highway users tax fund to implement the bill.

(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Status

Introduced
Lost

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Bill Text

Sponsors

Sponsor Type Legislators
Prime Sponsor

Rep. J. Melton
Sen. C. Holbert

Sponsor

Co-sponsor

Rep. C. Duran, Rep. D. Primavera, Rep. M. Tyler

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