Assigned to TAT                                                                                                                     FOR COMMITTEE

 


 

 

 


ARIZONA STATE SENATE

Fifty-Fifth Legislature, First Regular Session

 

FACT SHEET FOR H.B. 2424

 

electronic certificates of title.

Purpose

            Allows the Arizona Department of Transportation (ADOT) to contract with an association of new motor vehicle dealers to manage a lien recording system.

Background

            Current statute allows the Director of ADOT (Director) to establish a system that records certificate of title information for newly issued, transferred and corrected certificates of title. This includes the perfection and release of security interests through electronic media in a cost-effective manner in lieu of submission and maintenance of paper documents. In addition, the Director is required to: 1) establish procedures for issuing and maintaining a system that is applicable to all certificate of title transactions in Arizona; and 2) develop methods to electronically share information related to applications for certificates of title with law enforcement agencies (A.R.S. § 28-2064).

            There is no anticipated fiscal impact to the state General Fund associated with this legislation.

Provisions

1.   Allows ADOT to contract with an association of new motor vehicle dealers to manage a lien recording system on behalf of ADOT and at no cost to Arizona.

2.   Becomes effective on the general effective date.

House Action

TRANS           2/3/21        DP       11-0-0-1

3rd Read          2/11/21                  60-0-0

Prepared by Senate Research

March 3, 2021

ZD/SS/kja