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HB4296 Engrossed |
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LRB094 15908 DRH 51132 b |
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| AN ACT concerning transportation.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Illinois Vehicle Code is amended by adding |
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| Section 3-122 as follows:
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| (625 ILCS 5/3-122 new) |
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| Sec. 3-122. Reporting of salvaged vehicles and certain |
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| repaired vehicles. |
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| (a) Any insurance company that pays the repair costs for a |
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| vehicle, if (i) those costs exceed 75% of the fair market value |
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| of the vehicle and (ii) the insurance company recommends to its |
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| customer a third party who will purchase the vehicle, must |
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| report to the Secretary of State, within 30 days of making that |
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| recommendation, the vehicle identification number of that |
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| vehicle. |
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| (b) The Secretary shall assemble and make available to the |
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| National Insurance Crime Bureau a listing of: |
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| (1) the vehicle identification numbers for all salvage |
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| titles that the Secretary's office receives on and after |
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| the effective date of this amendatory Act of the 94th |
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| General Assembly; and |
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| (2) all vehicle identification numbers reported to the |
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| Secretary under subsection (a). |
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| (c) The Secretary shall adopt rules for implementing this |
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| Section.
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