SB 2787

Creates the Vehicle History Report Requirements for Used or Pre-Owned Vehicle Sales Act. Requires every licensed motor vehicle dealer in the State to provide a current vehicle history report to each customer to whom the licensed motor vehicle dealer sells a used or pre-owned vehicle. Provides that before assuming ownership of a used or pre-owned vehicle, the customer must sign a document confirming receipt and review of the vehicle history report. Provides that any licensed motor vehicle dealer, body shop, or other organization that inaccurately reports the mileage or historical data of a used or pre-owned vehicle being bought, sold, serviced, or inspected is in violation of the Act, for which the penalty is a fine of $1,000 per violation and, for subsequent violations, suspension or revocation of the business license or certification of the offending organization. Provides that any collected fine shall be deposited into the Illinois Dealer Recovery Trust Fund. Requires a licensed motor vehicle dealer, body shop, or other organization that incurs a fine to report the annual amount of fines incurred on the motor vehicle dealer's, body shop's, or other organization's annual accounting report or audit. Provides that a violation of the Act constitutes an unlawful business practice. Makes a conforming change in the Consumer Fraud and Deceptive Business Practices Act.