HB 974

ON APRIL 7, 2025, THE SENATE ADOPTED AMENDMENT #1 AND REFERRED SENATE BILL 1069, AS AMENDED, TO THE FINANCE COMMITTEE. AMENDMENT #1 rewrites the bill to, instead, make the following revisions to present law:  Adds that a motor vehicle dealer license is not required to sell or purchase a previously titled antique vehicle that is at least 25 years of age or a unique motor vehicle through an auction format if (i) the auction is being held at a venue with a permanent seating capacity of at least 20,000 located in Wilson County, (ii) the auction operator conducts no more than one auction in this state per year, (ii) the action offers no less than 400 vehicles and no more than 2,000 vehicles for any one auction, and (iv) the auction operator has a minimum net worth of $25 million.  Removes the new provision above on June 30, 2026, unless such provision is reenacted or extended by the general assembly prior to that date. ON APRIL 10, 2025, THE HOUSE ADOPTED AMENDMENT #1 AND PASSED HOUSE BILL 974, AS AMENDED. AMENDMENT #1 makes the same changes as described in Senate Amendment #1. ON FEBRUARY 2, 2026, THE SENATE SUBSTITUTED HOUSE BILL 974 FOR SENATE BILL 1069, ADOPTED AMENDMENT #2, AND PASSED HOUSE BILL 974, AS AMENDED. AMENDMENT #2 changes licensure exemption repeal date from June 30, 2026, to June 30, 2027.