IL SB1543

Lowers the model year threshold for rebuilt vehicle inspections from 8 model years to 4 model years of age or newer in Illinois.

Exempts vehicles older than 4 model years from requiring successful inspection before receiving a new certificate of title as a rebuilt vehicle.

Authorizes qualified individuals to conduct rebuilt vehicle inspections if they have been consecutively licensed as both an automotive parts recycler and rebuilder for at least 5 years and are members in good standing of an automotive trade association.

Maintains inspection requirements for flood vehicles that have sustained damage greater than 33⅓% of their fair market value, regardless of model year.

Requires all inspection fees collected by the Secretary of State to be applied toward maintaining the vehicle inspection program and covering personnel costs.