Legislative Update
IAA Looks at Pending, Enacted Industry Legislation from CO, CT, FL, IL & TX
Topics Include Electronic Titling, eSigning, Vehicle Record Access, and More
Published June 29, 2021 - Written by IAA, Inc.
Summary
IAA’s June 2021 Legislative Update reviews pending and recently enacted legislation affecting the auto auction industry.
IAA, Inc. is dedicated to being pro-active when monitoring legislative and regulatory matters that affect our customers and our industry. We believe being engaged with the legislative process is critical to the auto auction industry to promote responsible business conduct and continued healthy expansion. IAA works with lobbyists, insurance companies and other industry participants towards seeing our customers’ needs are met when it comes to legislative matters that may affect the industry.
Pending Legislation
Colorado Senate Bill 76
Passed both houses and awaiting Governor’s approval.
This bill provides up-front funding and a mechanism for ongoing funding for the DMV’s electronic motor vehicle registration and titling program that is already in statute as of 2018. This bill jumpstarts DMV’s modernization process by infusing the electronic registration and titling program with state moneys to fund initial implementation costs, which are estimated around $1.6M. The General Fund will pay for the initial costs of the program. Once up and running, the General Fund will be repaid with user fees from the program, which can be up to $3 per transaction.
IAA’s Position: Support
Connecticut Senate Bill 261
Passed both houses and awaiting Governor’s approval.
This bill revises numerous motor vehicle statutes. Among other changes, the bill removes the notarization requirement for a Power of Attorney (POA) related to insurance total loss claims for a motor vehicle and allows the POA to be signed electronically in certain circumstances.
This bill also allows an insurance company to obtain a certificate of title, salvage title or salvage parts-only title when the insurance company has paid a total loss claim and acquired ownership of the vehicle, but the vehicle owner or lienholder did not provide the certificate of title to the insurance company.
IAA’s Position: IAA actively lobbied in support of these changes.
Florida Senate Bill 1194
Passed both houses and awaiting Governor’s approval.
This bill makes a change to the alternative title process for insurance companies and documentation they need to submit to DMV. An insurance company or its authorized agent shall attest on a form provided by the DMV that a payment of a total loss claim has been distributed and state the attempts that have been made to obtain the certificate of title. This form replaces the requirement for the insurer to provide proof of payment of the claim.
IAA’s Position: Support
Illinois Senate Bill 1611
Passed both houses and awaiting Governor’s approval.
This bill allows the Secretary of State to adopt rules to authorize the filing of documents with his or her office that have been signed by electronic means. In addition, it specifies the rules to be adopted and provides certification requirements for entities seeking to provide services to third parties for the execution of electronic signatures for filing with the Secretary of State. Finally, it specifies minimum requirements for the use of electronic signatures on documents.
IAA’s Position: Support
Enacted Legislation
Texas Senate Bill 15
Effective June 18, 2021
This bill would have eliminated access to motor vehicle records by business entities, such as IAA and insurance companies. IAA, through its lobbyist, was able to amend the bill to allow salvage pools, used vehicle dealers and other entities to have access to the motor vehicle records. Such access is necessary to the conduct of IAA’s business and that of IAA’s insurance company customers.
IAA’s Position: Support
For more information about IAA's legislative and regulatory activities, contact:
Katerina Dotzeva
Director of Government Affairs, IAA
kdotzeva@iaai.com
