MN SF151

Removes "late-model or" language from Minnesota Statutes 168A.151, subdivision 1, making salvage certificate of title requirements apply to all high-value vehicles (previously required only for late-model or high-value vehicles).

Requires insurers to immediately apply for a salvage certificate of title when acquiring vehicle ownership through damage payments, or stamp the existing title with "SALVAGE CERTIFICATE OF TITLE" legend.

Expands salvage title requirements to self-insured owners whose vehicles sustain damage exceeding 80 percent of actual cash value and to owners receiving total loss settlements while retaining vehicle ownership.

Appropriates $441,000 in fiscal year 2021 from the vehicle services operating account to the commissioner of public safety for two additional vehicle inspection sites, equipment, and staff, with base appropriations of $395,000 for each of fiscal years 2022 and 2023.

Effective date is January 1, 2022, applying to vehicles acquired on or after that date and damage or settlements occurring on or after that date.