The bill introduces several changes to vehicle titling and registration laws in Colorado:
Fee Increases:
The bill raises the fees for the titling and registration of vehicles, including:
Motor vehicle and other vehicle registrations requiring license plates.
Temporary registration license plates.
Validation tabs, stickers, decals, or certificates for license plates.
Certificates of title.
Filing, extending, or releasing liens.
Obtaining a copy of a recorded title.
The county clerks, as agents of the Department of Revenue, will retain the additional $4 from these increased fees to cover their costs.
The Department of Revenue must adjust these fees for inflation but cannot increase them by more than 5% per year.
Shipping and Handling Fees:
County clerks are authorized to set shipping and handling fees for motor vehicle documents (not just license plates) and must publish the fees by October 15 each year for registration periods beginning the following January.
Vehicle Registration Flexibility:
The bill removes the requirement for registering multiple vehicles for less than one year to synchronize expiration dates. Now, individuals can register a single vehicle for less than one year for any reason.
Salvage Vehicle Disclosure:
The bill requires salvage vehicle titles to include a brand indicating that the vehicle is "rebuilt from salvage" and adds the following to the disclosure:
The reason the vehicle is considered salvage.
A statement from the owner explaining the damage leading to the salvage determination.
Signatures from both the seller and the buyer for the sale of the salvage vehicle.
A refund is required if the salvage vehicle title does not have the proper brand or if the vehicle has multiple assignments and the buyer was not informed about the vehicle’s salvage status.
Rebuilder's Certificate of Title:
The bill allows the Department of Revenue to issue a rebuilder's certificate of title to applicants who can prove ownership. This simplifies the process by requiring only one bond instead of two, which was previously needed for collector's items when ownership evidence was insufficient.
These changes aim to improve transparency in the vehicle title and registration processes and make it easier for individuals to manage their vehicles, especially in cases involving salvage vehicles and registration periods.
Summary
Current law sets fees for the titling and registration of vehicles and
authorizes county clerks, as authorized agents of the department of revenue (department), to retain a portion of these fees to cover their costs. The bill raises the fees for the following by $4 and allows the county clerks to retain the additional $4:
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Issuing: •
Motor vehicle and other vehicle registrations requiring license plates;
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Temporary registration license plates;
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A validation tab, sticker, decal, or certificate for license plates; and
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A certificate of title;
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Filing, extending, or releasing a lien; and
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Obtaining a copy of a recorded title.
The department must increase these fees to account for inflation,
but the department may not increase a fee more than 5% per year.
Current law authorizes a county clerk to set fees for shipping and
handling of license plates. The bill authorizes the county clerk to set fees for the shipping and handling of motor vehicle documents. The county clerk is required to set and publish the fee by October 15 for registration periods beginning January 1 of the following year.
Current law allows people to register vehicles for less than one
year so that each of their vehicles expire on the same month. The bill removes the multiple-vehicle requirement to allow people to register a vehicle for less than one year for any reason.
Current law requires a salvage vehicle's title to have a brand that
says rebuilt from salvage. The bill requires this brand to include a disclosure statement, which must:
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Include the reason the vehicle is salvage, as listed in statute;
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Contain a statement from the owner stating the nature of the damage that resulted in the determination that the vehicle is a salvage vehicle; and
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Contain the signature of the seller and buyer to sell the salvage vehicle.
Current law requires the seller of a salvage vehicle to provide a
disclosure statement of the fact and have it signed. And if the buyer does not know about the vehicle being rebuilt from salvage, the buyer is entitled to a refund. The bill requires this disclosure statement and the buyer to be provided the refund only if the title of a salvage vehicle does not have the brand on the title or the vehicle is subject to multiple assignments.
Current law provides the option to have a rebuilder's certificate of
title when a motor vehicle is a collector's item, the applicant is unable to provide appropriate evidence of ownership, and the applicant posts a bond. The bill authorizes the department to issue a rebuilder's certificate of title to people who can prove ownership. Under the current process, 2 bonds may be required. The bill changes the process to require only one bond. 1
