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AL HB548
Bill
Status
4/4/2013
Primary Sponsor
Randy Wood
Click for details
AI Summary
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Reduces the lien satisfaction period from 5 years to 3 years for vehicles that are 12 or more model years old when being transferred for scrapping, dismantling, or destruction purposes.
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Eliminates the requirement for a lien release when transferring vehicles 12 or more model years old for scrapping purposes after the 3-year period has elapsed.
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Maintains the existing 5-year lien satisfaction period for all other purposes and vehicle types, including travel trailers and vehicles weighing more than 12,000 pounds.
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Requires all lien releases to be electronically submitted to the Department of Revenue within 10 days of satisfaction, effective January 1, 2014.
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Permits the Department of Revenue to require electronic lien release submissions prior to January 1, 2014.
Legislative Description
Motor vehicles, scrap vehicles, 12 years old, lien expires after 3 years, all liens released to Department of Revenue electronically effective January 1, 2014, Sec. 32-8-64.2 am'd.
Motor Vehicles
Last Action
Read for the first time and referred to the House of Representatives committee on Commerce and Small Business
4/4/2013