IN HB1188

Transfers regulatory authority for dealer licensing and minimum business standards from the Bureau of Motor Vehicles to the Secretary of State, including inspections of certificates of title, vehicle inventories, and salvage vehicle records

Creates a new "research and development license plate" category for manufacturers of vehicle subcomponent systems, including universities engaged in vehicle component research, with a $20 fee

Establishes international driver's license reciprocity program requiring the Bureau of Motor Vehicles to negotiate agreements with foreign countries (excluding state sponsors of terrorism) to waive examination requirements for applicants with valid foreign licenses or international driving permits

Changes interim license plate fee distribution from 30%/70% (dealer compliance account/motor vehicle highway account) to 90%/10%, increasing funding for dealer compliance enforcement

Allows dealer licensees to satisfy the $25,000 bond requirement by demonstrating membership in a risk retention group regulated by the Indiana Department of Insurance as an alternative