HB5140 Summary

• Expands definition of "automotive parts recycler" to include persons acquiring previously owned vehicles for primary purpose of disposing of entire vehicles, not just vehicle parts.

• Modifies definitions of "remittance agent" and "remitter" to include persons handling money for payment of registration plates, vehicle certificates of title, taxes, and registration fees (broadened from prior language).

• Requires salvage certificate applications when licensed rebuilders, repairers, new/used vehicle dealers, or remittance agents apply for title to vehicles with damage exceeding 33 1/3% of fair market value.

• Adds requirement for remittance agent license applicants to certify they have not committed violations in past 3 years under Retailers' Occupation Tax Act or Illinois Vehicle Code title/registration requirements.

• Simplifies remittance agent licensing procedures by removing detailed hearing and subpoena provisions and replacing them with reference to Section 2-118 administrative hearing requirements; effective immediately upon enactment.