s_sa_2016a_2016-04-27t13:31:30z7 Hearing Summary

Date: 04/27/2016

06:17 PM -- HB16-1293



Senator Holbert presented House Bill 16-1293 to the committee. This bill, as amended by the House Transportation and Energy Committee, requires automobile insurers to submit to the Department of Revenue (DOR) a statement notifying DOR when a motor vehicle:



• has been damaged and needs repairs exceeding the vehicle's value; or

• has been designated by the insurer as a total loss.



Upon receipt of this statement from the insurer, the DOR must:



• notify the owner and all lienholders and provide each with a copy of the statement;

• issue a new title branded with "insurance loss," or a salvage title if the statement includes facts that qualify the vehicle as a salvage vehicle; and

• note on the title any unreleased liens and deliver the title to the senior lienholder or the owner with a demand that the original title be surrendered.



06:22 PM -- Stan Martin, representing the Colorado Independent Automobile Dealers Association, testified in support of the bill.



06:26 PM -- Paul Bjork, representing himself, testified in support of the bill.



06:38 PM -- Todd O'Connell, representing Colorado Independent Automobile Dealers Association, testified in support of the bill and provided two handouts (Attachments L and M).



16SenateState0427AttachL.pdf 16SenateState0427AttachM.pdf



06:47 PM



Senator Holbert wrapped up his presentation to the committee.

06:54 PM



The committee adjourned.