HCS HB 1284 -- SALVAGE MOTOR VEHICLES (Engler)

This substitute revises the definition of "salvage vehicle" to
include any motor vehicle, semitrailer, or house trailer which
has been damaged to the extent that the total cost of repairs to
rebuild the vehicle to its condition immediately before it was
damaged exceeds 75% of the fair market value of the vehicle prior
to the damage.

The total cost of repairs to rebuild or reconstruct a vehicle
will not include the cost of repairing, replacing, or
reinstalling inflatable safety restraints, tires, sound systems,
or any sales tax on parts or material to rebuild or reconstruct a
vehicle.  The substitute also defines "fair market value."

Salvage titles may be negotiable with one reassignment on the
back of the title by registered dealers or insurance companies.

FISCAL NOTE:  No impact on state funds in FY 2005, FY 2006, and
FY 2007.

Missouri House of Representatives
92nd General Assembly, 2nd Regular Session
Last Updated September 23, 2004 at 11:15 am