MS SB2840

Changes the vehicle age requirement from 10 model years old to 20 model years old for transferring untitled vehicles to licensed parts dealers or scrap processors.

Adds a requirement that vehicles must not have been registered for at least the previous 3 years in order to qualify for the alternative transfer statement process.

Requires the statement form to certify the vehicle is at least 20 model years old and has not been registered for at least 3 years, with penalties of up to $1,000 fine or 6 months imprisonment for first offense falsification and up to $5,000 fine or 5 years imprisonment for subsequent offenses.

Maintains existing requirements for used motor vehicle parts dealers and scrap metal processors to report vehicle acquisitions to the Department of Revenue and National Motor Vehicle Title Information System within specified timeframes.

Effective date: July 1, 2023.