SB 2974

Abstract

Amends the Illinois Vehicle Code. Provides that certificates of title issued by the Secretary of State shall contain an expiration date of one calendar year after the end of the term of the lien and an identification number corresponding to the lienholder, to go along with the names and addresses of any lienholders. Provides that the corresponding identification number shall appear on the certificate of title in order for the Secretary to inform the lienholder that the Secretary has received a lien release for a particular motor vehicle. Provides that an expiration date of up to one calendar year after a perfected security interest in a motor vehicle expires shall be included on each certificate of title issued in which a lienholder has perfected a security interest in the motor vehicle. Provides that if the recorded lienholder has not reaffirmed the lien by applying for a corrected title with a new expiration date before the expiration date on the original certificate of title, then the owner of the motor vehicle may apply for a corrected certificate of title without the lienholder appearing on the certificate of title. Provides that beginning with the 2017 registration year, permanent vehicle registration plates shall be issued, for a one time fee of $8.00, to vehicles that do not require a school bus driver permit to operate, and are owned by a public school district from grades K-12 or a public community college. Provides that beginning with the 2017 registration year, permanent vehicle registration plates shall be issued, for a one time fee of $8.00, to vehicles of the first division or vehicles of the second division weighing not more than 8,000 pounds that are owned by a medical facility or hospital of a municipality, county, or township. Effective immediately.