California Assembly Bill AB1534 Amended / Bill

 BILL NUMBER: AB 1534AMENDED BILL TEXT AMENDED IN ASSEMBLY MARCH 14, 2012 INTRODUCED BY Assembly Member Wieckowski  (   Coauthor:   Senator   Correa   )  JANUARY 24, 2012 An act to add Chapter  5   6  (commencing with Section  10000)   11950)  to Division  3.6   5  of the Vehicle Code, relating to  used vehicle sales   vehicles  . LEGISLATIVE COUNSEL'S DIGEST AB 1534, as amended, Wieckowski. Vehicles:  dealers:  used vehicle sales: labeling requirements. Existing law regulates the accuracy of information provided to consumers during vehicle sales, including the information contained in advertising, brochures, and manuals, as specified. Existing law also requires manufacturers, as specified, to disclose certain information regarding a vehicle's engine, as specified, by affixing a label on the vehicle.  Violation   A violation  of these provisions is an infraction. This bill would require  every   a  dealer  , on or after January 1, 2013,  to affix  to and to prominently and conspicuously display  a  prominent  label  to every   on any  used vehicle  offered for sale  that states the reasonable market value of  that   the  vehicle  , as defined  .  This   The  bill would require the label to  disclose, among other things, the vehicle valuation entity     contain specified information  used to determine the vehicle's reasonable market value and the date the value was determined.  By expanding the definition of crimes relating to vehicle sales, this   The bil   l would require a dealer to provide to a prospective purchaser of the used vehicle a copy of any information obtained from a nationally recognized pricing guide that the dealer used to determine the reasonable market value   of the vehicle. By creating a new crime, the  bill would impose a state-mandated local program. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason. Vote: majority. Appropriation: no. Fiscal committee: yes. State-mandated local program: yes. THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS: SECTION 1. Chapter  5   6  (commencing with Section  10000)   11950)  is added to Division  3.6   5  of the Vehicle Code, to read: CHAPTER 5.   6.   DISCLOSURE OF MARKET VALUE   SALE  OF USED VEHICLES  10000.  11950.  (a)  Every   A  dealer  , on or after January 1, 2013,  shall affix a  prominent  label on  every   any  used vehicle being offered for sale that states the reasonable market value of that vehicle.  A valid   The  label  under this section  shall meet all of the following conditions: (1) Be in writing. (2) Be printed with a heading that reads "REASONABLE MARKET VALUE OF THIS VEHICLE" in at least 16-point bold type and text in at least 12-point type. (3) Be located adjacent to the window sticker identifying the equipment provided with the vehicle or, if none, it shall be located prominently and conspicuously on the vehicle  in such a fashion   so  that it is readily readable. (4) Contain the information used to determine the reasonable market value of the vehicle, including, but not limited to, the  vehicle valuation entity used to determine the reasonable market value.   use of a nationally recognized pricing guide for used vehicles.  (5) Contain the date the reasonable market value was determined.  (b) For purposes of this section, "reasonable market value"   (b) A dealer shall provide to a prospective purchaser of the used vehicle a copy of any information obtained from a nationally recognized pricing guide that the dealer used to determine the reasonable market value of the vehicle.   (c) As used in this section:   (1)     "Reasonable market value"  means the average retail value of a used vehicle based on the condition, mileage, year, make, and model of the vehicle, as determined within the last 30 days by a  vehicle valuation entity   nationally recognized pricing guide  that provides  used  vehicle  value guides or vehicle   retail values or  pricing reports to  dealers or  the public.  (2) "Nationally recognized pricing guide" includes, but is not limited to, the Kelley Blue Book (KBB), Edmunds, the Black Book, or the National Automobile Dealers' Association (NADA) Guide.  SEC. 2. No reimbursement is required by this act pursuant to Section 6 of Article XIII B of the California Constitution because the only costs that may be incurred by a local agency or school district will be incurred because this act creates a new crime or infraction, eliminates a crime or infraction, or changes the penalty for a crime or infraction, within the meaning of Section 17556 of the Government Code, or changes the definition of a crime within the meaning of Section 6 of Article XIII B of the California Constitution.