|Posted:||March 6, 2018 02:38 PM|
|From:||Senator Patrick J. Stefano|
|To:||All Senate members|
|Subject:||Recovered Theft Vehicle Title Legislation|
|In the near future, I plan to introduce legislation which will reduce the need to obtain a recovered theft vehicle title in Pennsylvania.
Currently, Pennsylvania has one of the most onerous requirements for re-titling theft vehicles in the nation. Every theft vehicle in Pennsylvania is required to be retitle, regardless of the cost of damages to the vehicle, if any. The need to obtain a recovered theft vehicle title can result in approximately a 15%-25% decrease in re-sale value of the vehicle, while also, roughly doubling the amount of time it takes to sell such a vehicle.
It is my intention to reduce the need for consumers to obtain the recovered theft vehicle title in Pennsylvania by creating a damage threshold that would trigger this requirement. Owners of recovered theft vehicles with minimal damage would no longer have to obtain this title. Owners of recovered theft vehicles with significant damage would still be required to obtain the title.
I sincerely hope that you will consider joining me in co-sponsoring this legislation. If you have any questions regarding this information, please contact Jake Gery in my office at 717.787.7175.
Introduced as SB1101