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| 1 | 1 | Senate File 492 - Introduced SENATE FILE 492 BY COMMITTEE ON TRANSPORTATION (SUCCESSOR TO SF 292) A BILL FOR An Act relating to the acquisition of certain vehicles by a 1 vehicle recycler, and making penalties applicable. 2 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 3 TLSB 2271SV (3) 91 th/ns | |
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| 3 | 3 | S.F. 492 Section 1. Section 321.52, subsection 2, paragraph b, Code 1 2025, is amended to read as follows: 2 b. The owner of a motor vehicle subject to registration 3 that who does not have a certificate of title or a junking 4 certificate may dispose of the vehicle to a vehicle recycler 5 licensed under chapter 321H for scrap or junk if the vehicle is 6 twelve model years old or older and is acquired by the vehicle 7 recycler for reasonable consideration equaling less than one 8 thousand dollars. A licensed vehicle recycler shall not 9 acquire such a vehicle unless the recycler uses the recyclers 10 access to the state records system described in section 321.31 11 to verify there is not a lienholder who has a security interest 12 in the vehicle. However, a licensed vehicle recycler is not 13 required to verify the nonexistence of a lienholder if the 14 recycler acquires the vehicle for scrap or junk from a scrap 15 metal dealer, as defined in section 714.27. 16 EXPLANATION 17 The inclusion of this explanation does not constitute agreement with 18 the explanations substance by the members of the general assembly. 19 Under current law, the purchaser or transferee of a motor 20 vehicle sold for scrap or junk is required to surrender 21 the certificate of title, properly endorsed and signed by 22 the previous owner, to a county treasurer, and apply for a 23 junking certificate from the county treasurer, within 30 days 24 after assignment of the certificate of title. However, a 25 vehicle owner may dispose of the vehicle to a vehicle recycler 26 licensed under Code chapter 321H (vehicle recyclers) for 27 scrap or junk without presenting a certificate of title or a 28 junking certificate if the vehicle is 12 model years old or 29 older and is acquired by the vehicle recycler for reasonable 30 consideration equaling less than $1,000. 31 This bill prohibits a licensed vehicle recycler from 32 acquiring such a vehicle unless the recycler uses the 33 recyclers access to the state records system to verify that 34 there is not a lienholder who has a security interest in the 35 -1- LSB 2271SV (3) 91 th/ns 1/ 2 | |
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| 5 | 5 | S.F. 492 vehicle. A licensed vehicle recycler is not required to verify 1 the nonexistence of a lienholder in transactions with a scrap 2 metal dealer. 3 By operation of law, a violation of the bill is a simple 4 misdemeanor punishable by a scheduled fine of $135. 5 -2- LSB 2271SV (3) 91 th/ns 2/ 2 |