Requires MVC to administer electronic transaction system for used motor vehicle sales within certain time period; authorizes use of same system for private motor vehicle sales.

This bill requires New Jersey's Motor Vehicle Commission (MVC) to create an electronic system for processing used motor vehicle sales transactions within 24 months. It directly affects used car dealers, private sellers (individuals selling cars to other individuals, not dealers), and the MVC. The key provision mandates that all used vehicle sales documents be submitted electronically, and extends this requirement to private sales. The system must also handle security interest notifications and title transfers electronically, replacing current paper-based processes. This changes how vehicle transactions are documented, moving to a digital format for compliance.