Sponsored by:
Assemblywoman CAROL A. MURPHY
District 7 (Burlington)
Co-Sponsored by:
Assemblywoman Dunn
SYNOPSIS
Requires MVC to administer electronic transaction system used motor vehicle sales within certain time period; authorizes use of same system for private motor vehicle sales.
CURRENT VERSION OF TEXT
As introduced.
An Act concerning motor vehicle transactions and amending P.L.2021, c.462.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. Section 8 of P.L.2021, c.462 (C.39:10-4.1) is amended to read as follows:
8. Not later than 24 months after the effective date of P.L.2021, c.462 (C.39:10-19.5 et al.), the Chief Administrator of the New Jersey Motor Vehicle Commission shall, in accordance with the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), adopt rules and regulations necessary to establish and administer a system to permit new motor vehicle sales transaction documents and used motor vehicle sales transaction documents to be prepared by or submitted to the commission in electronic from, or processed electronically in compliance with R.S.39:10-1 et seq., the federal Truth in Mileage Act of 1986, Pub.L.99-579 (49 U.S.C. s.32705), and the regulations promulgated pursuant to the federal Truth in Mileage Act of 1986, Pub.L.99-579 (49 U.S.C. s.32705).
The chief administrator [shall] may, by regulations adopted pursuant to this section, establish a schedule to permit [used] private motor vehicle sales transaction documents to be prepared by or submitted to the commission in electronic form, or processed electronically, in compliance with R.S.39:10-1 et seq., the federal Truth in Mileage Act of 1986, Pub.L.99-579 (49 U.S.C. s.32705), and the regulations promulgated pursuant to the federal Truth in Mileage Act of 1986, Pub.L.99-579 (49 U.S.C. s.32705). For the purposes of this section, “private motor vehicle sale” means the sale of a motor vehicle by a person who is not a new motor vehicle dealer or used motor vehicle dealer to another person or persons.
Notwithstanding the provisions of P.L.2017, c.308 (C.39:10-11.2 to 11.6) to the contrary, the system established by the commission pursuant to this section shall include the notification, recording, transfer, and release of security interests and title information by the lienholders of motor vehicles in lieu of a paper-based system used for those purposes.
(cf: P.L.2021, c.462, s.8)
2. This act shall take effect immediately.
STATEMENT
This bill requires the New Jersey
Motor Vehicle Commission to
implement an electronic transaction system for used motor vehicles within 24 months of the effective date of P.L.2021, c.462. The bill also authorizes the MVC to use the same electronic transaction system for private motor vehicle sales and private motor vehicle sales transaction documents.