‘(d) Disclosure of Fair Market Value and Safety Information- (1) Not later than 270 days after the date of enactment of this subsection, the Secretary of Transportation, through the National Highway Traffic Safety Administration, shall issue a regulation 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 such motor vehicle, to disclose to the public in a commercially reasonable, electronically accessible manner the following information for every motor vehicle that has been identified in such contract:
‘(A) The vehicle identification number of the motor vehicle.
‘(B) The date of the termination of the contract.
‘(C) The odometer reading of the motor vehicle on the date of the termination of the contract.
‘(D) Whether, as a result of the incident that resulted in the termination of the contract, one or more airbags in the motor vehicle were deployed.
‘(E) The cause of the termination of the contract, including whether such cause was flood or water damage, collision, fire damage, theft and recovery, or another cause.
‘(2) The Secretary shall rely on the private sector to collect, aggregate, and disclose to the public the fair market value and safety information described in paragraph (1) and all such information shall be accessible by vehicle identification number.
‘(3) For purposes of this subsection, the term ‘person’ includes any individual, company, corporation, association, firm, partnership, society, or any other entity, but does not include any governmental agency.’.
U.S. Congress - Text of H.R.164 as Introduced in House Damaged Vehicle Information Act
