Tennessee Senate Bill SB2001

Tennessee 2023-2024 Regular Session

• Introduced: 1/25/24
• Engrossed: 2/26/24
• Enrolled: 3/7/24
• Passed: 3/25/24
• Chaptered: 4/3/24

Caption

AN ACT to amend Tennessee Code Annotated, Title 55, Chapter 17 and Title 62, Chapter 19, relative to auctions of previously titled motor vehicles that are antique or unique.

Impact

The impact of SB2001 on state laws revolves around easing regulations associated with antique and unique motor vehicle auctions. By removing the necessity for dealers to possess a dealer license for holding auctions during festivals, the bill potentially allows for a more flexible environment for these types of sales. This is particularly significant for regions that host such festivals and can encourage local economic activities by promoting automotive events, which may indirectly benefit local businesses involved in such festivals.

Summary

SB2001 seeks to amend specific Tennessee Code Annotated sections related to the auctioning of previously titled antique or unique motor vehicles. The bill proposes that a motor vehicle dealer license is not required for selling or purchasing such vehicles through an auction format, provided the auction is held in conjunction with a motor vehicle festival at a designated municipal convention center. This provision applies to counties with a specific population range as defined in the bill and is set to expire on October 16, 2024.

Sentiment

The general sentiment surrounding SB2001 appears to trend positively, particularly among those involved in organizing automotive festivals and events. Supporters see it as a beneficial amendment that could boost local economies and attract more visitors to these events. However, concerns may arise regarding potential impacts on consumer protection if licensing regulations are relaxed, hinting that some members of the public or legislators may express reservations about the bill's long-term implications.

Contention

Notable points of contention regarding SB2001 include discussions around consumer safety and the proper regulation of auctions. While proponents highlight the potential economic boosts from easing regulatory needs, opponents may raise valid concerns about ensuring that such auctions maintain standards that protect buyers from fraudulent practices. The limited duration of the bill—which is set to repeal in 2024—might also stimulate debate on whether the provisions should be made permanent based on their effectiveness in promoting safe and fair auction practices.