VEH CD-SALVAGE CERTIFICATE

Amends the Illinois Vehicle Code. Provides that a vehicle of 4 model years or older (rather than 9 model years or older) may be retained by the registered owner instead of by the insurance company, even after the insurance company makes a payment of damages on total loss claim for the vehicle. Provides that an application for a salvage certificate shall be submitted to the Secretary of State when any licensed rebuilder, repairer, new or used vehicle dealer, or remittance agent has submitted an application for title to a vehicle that the person knows or reasonably should have known to have sustained damages in excess of 50% (instead of 33 1/3%) of the vehicle's fair market value without that damage.