Damaged Vehicle Information Act

Representative Stearns (R-FL) has introduced legislation (H.R. 1257) to require the disclosure of information relating to the fair market value and safety of damaged motor vehicles. The bill would require NHTSA to issue a regulation within 270 days of enactment requiring all persons who terminate a contract related to a motor vehicle due to flood or water damage, collision, fire damage, theft and recovery, or any other circumstance that adversely affects the fair market value of the vehicle, to disclose to the public in a commercially reasonable, electronically accessible manner information related to the vehicle and the reason for the contract termination. The bill has been referred to the Committee on Energy and Commerce.