BILL NUMBER: AB 1534 INTRODUCED BILL TEXT INTRODUCED BY Assembly Member Wieckowski JANUARY 24, 2012 An act to add Chapter 5 (commencing with Section 10000) to Division 3.6 of the Vehicle Code, relating to used vehicle sales. LEGISLATIVE COUNSEL'S DIGEST AB 1534, as introduced, Wieckowski. Vehicles: used vehicle sales: labeling requirements. Existing law regulates the accuracy of information provided to consumers during vehicle sales, including the information contained in advertising, brochures, and manuals, as specified. Existing law also requires manufacturers, as specified, to disclose certain information regarding a vehicle's engine, as specified, by affixing a label on the vehicle. Violation of these provisions is an infraction. This bill would require every dealer, on or after January 1, 2013, to affix a prominent label to every used vehicle that states the reasonable market value of that vehicle, as defined. This bill would require the label to disclose, among other things, the vehicle valuation entity used to determine the vehicle's reasonable market value and the date the value was determined. By expanding the definition of crimes relating to vehicle sales, this bill would impose a state-mandated local program. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason. Vote: majority. Appropriation: no. Fiscal committee: yes. State-mandated local program: yes. THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS: SECTION 1. Chapter 5 (commencing with Section 10000) is added to Division 3.6 of the Vehicle Code, to read: CHAPTER 5. DISCLOSURE OF MARKET VALUE OF USED VEHICLES 10000. (a) Every dealer, on or after January 1, 2013, shall affix a prominent label on every used vehicle being offered for sale that states the reasonable market value of that vehicle. A valid label under this section shall meet all of the following conditions: (1) Be in writing. (2) Be printed with a heading that reads "REASONABLE MARKET VALUE OF THIS VEHICLE" in at least 16-point bold type and text in at least 12-point type. (3) Be located adjacent to the window sticker identifying the equipment provided with the vehicle or, if none, it shall be located prominently and conspicuously on the vehicle in such a fashion that it is readily readable. (4) Contain the information used to determine the reasonable market value of the vehicle, including, but not limited to, the vehicle valuation entity used to determine the reasonable market value. (5) Contain the date the reasonable market value was determined. (b) For purposes of this section, "reasonable market value" means the average retail value of a used vehicle based on the condition, mileage, year, make, and model of the vehicle, as determined within the last 30 days by a vehicle valuation entity that provides vehicle value guides or vehicle pricing reports to the public. SEC. 2. No reimbursement is required by this act pursuant to Section 6 of Article XIII B of the California Constitution because the only costs that may be incurred by a local agency or school district will be incurred because this act creates a new crime or infraction, eliminates a crime or infraction, or changes the penalty for a crime or infraction, within the meaning of Section 17556 of the Government Code, or changes the definition of a crime within the meaning of Section 6 of Article XIII B of the California Constitution.