NEW VEHICLE BUYER PROTECT ACT

Creates the New Vehicle Buyer Protection Act of 2004. Provides that qualified third-party dispute resolution processes may be used to resolve certain disputes between certain new vehicle buyers and manufacturers concerning a nonconformity that substantially impairs the use, value, or safety of a new vehicle. Provides that, if a qualified third-party dispute resolution process does not exist, or the new vehicle buyer is dissatisfied with that third-party decision, or the manufacturer or its agent does not fulfill the terms of a decision after it is accepted by the buyer, the buyer may: (i) assert a presumption that a reasonable number of attempts have been made to conform the vehicle to the applicable express warranties in accordance with criteria set forth in the Act and (ii) seek replacement of the vehicle or restitution for the price of the vehicle and damages, attorney's fees, costs, and a civil penalty. Provides that no person may sell, lease, or transfer a motor vehicle that was returned to a manufacturer under the Act or a similar law of any other state unless the vehicle's nonconformity is clearly and conspicuously disclosed to the prospective buyer, lessee, or transferee, the nonconformity is corrected, and the manufacturer warrants to the new buyer, lessee, or transferee in writing for a period of one year that the motor vehicle is free of that nonconformity, except as otherwise specified. Provides that the Attorney General shall establish a program for certifying, reviewing, and decertifying third-party dispute resolution processes established by new vehicle manufacturers or their agents. Provides that the Secretary of State may suspend the license of a manufacturer or distributor for its failure to honor a decision of a qualified third-party dispute resolution process. Provides that the Secretary of State shall collect fees from manufacturers for the administration of the program and that the fees shall be deposited in the new Third-Party Dispute Resolution Fund. Applies to new motor vehicles beginning with the model year following the effective date of the Act. Amends the State Finance Act, the Retailers' Occupation Tax Act, and the Illinois Vehicle Code to conform to the new Act. Amends the existing New Vehicle Buyer Protection Act to provide that it does not apply to vehicles to which the new Act applies. Effective January 1, 2005.