MN HF2136

Redefines "late-model vehicle" to mean vehicles with a manufacturer's designated model year equal to or greater than the fifth calendar year preceding the current calendar year, replacing the previous six-year calculation method.

Changes the damage disclosure threshold from 70 percent to 80 percent of a vehicle's actual cash value for late-model and high-value vehicles.

Extends the timeframe for insurers to notify the Department of Motor Vehicles from 48 hours to ten days after obtaining title of a vehicle acquired through damage payment.

Removes the exclusion of airbag and safety restraint repair costs from damage calculations for determining whether disclosure is required.

Applies damage disclosure requirements only to late-model vehicles rather than all motor vehicles, making the requirement inapplicable to vehicles six years old or older.