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Senate Counsel, Research and Fiscal Analysis
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Minnesota Senate Bldg.
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95 University Avenue W. Suite 3300
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St. Paul, MN 55155
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(651) 296-4791
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Alexis C. Stangl
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Director
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Senate
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State of Minnesota
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S.F. No. 871 - High-Value Motor Vehicle Salvage Title
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Author:
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Senator Roger Reinert
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Prepared By:
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Krista Boyd, Senate Fiscal Analyst (651/296-7681)
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Date:
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March 20, 2013
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Section 1 changes from $5,000 to $9,000 the minimum pre-damage value to warrant classification of the vehicle as a "high-value vehicle." Current law requires an insurance company that acquires a high-value vehicle through payment of damages, or a person who acquires a similar vehicle from out of state under specified circumstances, to apply to the Department of Public Safety for a salvage certificate of title.
BB/KB:rer
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Check on the status of this bill
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Last review or update: 03/20/2013
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