CO HB1342

Creates a state NMVTIS reporting database program administered through a third-party data consolidator to track sales of salvage vehicles, junk vehicles, flood-damaged vehicles, nonrepairable vehicles, and similarly branded motor vehicles.

Requires licensed dealers to maintain electronic records of sales for 3 years including vehicle information, purchaser and seller names/addresses, copies of purchaser driver's licenses, and proof of required licenses.

Mandates sellers and purchasers report vehicle sales to the database within 2 business days; licensed dealers must report monthly and can charge a consolidator fee of up to 50 cents per vehicle (subject to Department of Revenue approval).

Creates the State NMVTIS Reporting Database Fund in the state treasury to hold collected fees and other appropriated money for program implementation.

Makes database information available to state and local law enforcement agencies upon request, and establishes violation of reporting requirements as a Class 1 misdemeanor.

Applies to motor vehicles sold on or after January 1, 2017.