Senate Bill 148 Summary

• Repeals and reenacts sections 137.090, 137.095, 301.140, 301.193, and creates new section 301.642 relating to property assessment and salvage motor vehicles.

• Allows the director of revenue to issue temporary permits to individuals possessing salvage motor vehicles requiring inspection, limiting operation to the most direct route from residence/storage to the nearest inspection facility and back.

• Establishes procedures for insurers and property owners to obtain salvage certificates of title or junking certificates for abandoned vehicles, including law enforcement inspection and 30-day notice requirements to prior owners and lienholders.

• Creates new section 301.642 allowing insurers to apply for salvage or junking certificates for vehicles with valid liens by obtaining a letter of guarantee from the lienholder, remitting payment within 10 days, and submitting proof of satisfaction to the department of revenue in lieu of traditional lien releases.

• Modifies assessment provisions for tractors and trailers used in interstate commerce to require apportionment to Missouri based on the ratio of miles traveled in the state compared to total interstate miles during the preceding tax year.