HB 16-1056 Summary

• Requires the Colorado Department of Revenue to conduct a national title search when a vehicle is not found in state records to identify out-of-state vehicle owners and lienholders.

• Mandates tow operators notify vehicle owners and lienholders within 2-10 days of towing by certified mail using information from department records or national title searches.

• Extends the tow operator's 10-day notification deadline by excluding days spent waiting for the department to return national title search results, without affecting daily storage fees.

• Caps total compliance costs for tow operators at $150 and allows the department to charge operators up to $5 per national title search to cover direct and indirect implementation costs.

• Appropriates $21,929 to the Division of Motor Vehicles for the 2016-17 fiscal year to implement the bill, effective for vehicles towed on or after January 1, 2017.