VEH CD-SALVAGE TITLES Senate SponsorsSen. Iris Y. Martinez and Pamela J. Althoff House Sponsors(Rep. Marlow H. Colvin-William B. Black and Arthur L. Turner) 8/28/2007SenatePublic Act . . . . . . . . . 95-0495 625 ILCS 5/3-117.1from Ch. 95 1/2, par. 3-117.1 Amends the Illinois Vehicle Code. Provides that a vehicle that is owned by a self-insured company and is to be sold in the State of Illinois shall be considered salvage if the vehicle has sustained damage to the extent that the self-insured company determines the vehicle to be a total loss, or if the cost of repairing the damage would be greater than 50% of its fair market value. Establishes requirements for obtaining a salvage certificate for the vehicle. Provides for exchange of a salvage certificate for a certificate of title if a vehicle owned by a self-insured company that was declared a total loss because of a theft is recovered without damage. 2/8/2007SenateFiled with Secretary by Sen. Iris Y. Martinez 2/8/2007SenateFirst Reading 2/8/2007SenateReferred to Rules 2/21/2007SenateAssigned to Transportation 3/13/2007SenateAdded as Co-Sponsor Sen. Pamela J. Althoff 3/14/2007SenateDo Pass Transportation; 010-000-000 3/14/2007SenatePlaced on Calendar Order of 2nd Reading March 15, 2007 3/22/2007SenateSecond Reading 3/22/2007SenatePlaced on Calendar Order of 3rd Reading March 27, 2007 3/30/2007SenateThird Reading - Passed; 056-000-000 3/30/2007HouseArrived in House 3/30/2007HousePlaced on Calendar Order of First Reading 3/30/2007HouseChief House Sponsor Rep. Marlow H. Colvin 4/9/2007HouseFirst Reading 4/9/2007HouseReferred to Rules Committee 4/30/2007HouseAssigned to Judiciary I - Civil Law Committee 5/8/2007HouseDo Pass / Short Debate Judiciary I - Civil Law Committee; 012-000-000 5/9/2007HousePlaced on Calendar 2nd Reading - Short Debate 5/29/2007HouseAdded Alternate Co-Sponsor Rep. Arthur L. Turner 5/29/2007HouseSecond Reading - Short Debate 5/29/2007HousePlaced on Calendar Order of 3rd Reading - Short Debate 5/31/2007HouseThird Reading - Short Debate - Passed 115-000-000 5/31/2007SenatePassed Both Houses 5/31/2007HouseAdded Alternate Chief Co-Sponsor Rep. William B. Black 6/29/2007SenateSent to the Governor 8/28/2007SenateGovernor Approved 8/28/2007SenateEffective Date January 1, 2008 8/28/2007SenatePublic Act . . . . . . . . . 95-0495