Florida Senate - 2009                        COMMITTEE AMENDMENT
       Bill No. SB 906
       
       
       
       
       
       
                                Barcode 360996                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                   Comm: RE            .                                
                  04/01/2009           .                                
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       The Committee on Transportation (Bullard) recommended the
       following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Between lines 82 and 83
    4  insert:
    5         Section 2. (1) By January 1, 2010, the Department of
    6  Highway Safety and Motor Vehicles shall implement a system that
    7  will provide daily electronic notification to motor vehicle
    8  floor-plan financers when a motor vehicle is sold by a licensed
    9  motor vehicle dealer.
   10         (2) The department may use its temporary tag database,
   11  permanent tag database, or any other electronic database
   12  available to expedite the notification process. The notification
   13  must include, at a minimum, the year, make, model, vehicle
   14  identification number, and dealer identification.
   15         (3)(a) To assist the department, each floor-plan financer
   16  shall notify the department of the motor vehicle dealer name and
   17  license number of the vehicle of which the floor-plan financer
   18  has perfected a security interest pursuant to chapter 679,
   19  Florida Statutes, or other applicable law.
   20         (b) A floor-plan financer may authorize a third-party
   21  entity to provide information to and receive information from
   22  the department.
   23         (c) Upon termination of a perfected security interest in
   24  the inventory of a secured debtor, a motor vehicle floor-plan
   25  financer shall notify the department of such termination and the
   26  department shall no longer be required to notify the financer of
   27  sales made by such dealer.
   28         (4) The department may charge an entity receiving the
   29  notification up to 5 cents per motor vehicle record and such
   30  revenues shall be deposited into the Highway Safety Operating
   31  Trust Fund.
   32  
   33  ================= T I T L E  A M E N D M E N T ================
   34         And the title is amended as follows:
   35         Delete line 14
   36  and insert:
   37         certificate of title; requiring the department to
   38         implement a system to notify motor vehicle floor-plan
   39         financers when a motor vehicle is sold by a licensed
   40         dealer; providing system requirements; providing fees
   41         for users of the system and providing for disposition
   42         of the fees; providing an effective date.
   43