HB393 Summary

• Creates a "master dealer license" that consolidates motor vehicle dealer licensing requirements under the Department of Revenue, effective October 1, 2020.

• Increases dealer license plate limits for new motor vehicle dealers from 25 to 35 plates and reduces the threshold for additional plates from 1,500 to 300 title transfers annually.

• Establishes a new wholesale motor vehicle auction license category for entities buying, selling, or facilitating vehicle sales at wholesale to dealers and automotive dismantlers, with licensing and bonding requirements.

• Increases civil penalties for license plate misuse from $100 to $200 for first violations and maintains $500 for subsequent violations; violators of the wholesale auction licensing requirements face Class A misdemeanor charges.

• Adjusts bond requirements for master dealers from $25,000 to a minimum of $50,000 effective October 1, 2020, and authorizes fee adjustments based on neighboring states' dealer license fees.