The NMMA reported today that titling legislation for boats has advanced in the state legislatures of Alabama, Florida and Georgia. The trade association says that strong titling laws provide critical protections to the entire boating community, including consumers, dealers, and manufacturers. “Expanding these protections throughout the U.S. is a top NMMA state advocacy priority,” said the Currents story.
The language in all three bills would require a special alert be added to titles of totaled or substantially damaged vessels, so potential buyers know the boat has a checkered history. “Reducing the number of inferior products on the market also incentivizes financial institutions and insurance companies to issue more affordable loans and policies, often improving access to reasonable financing and premiums,” said the story.
In Alabama, Sen. William Beasley introduced S152, which would establish a boat titling program. The bill will be heard before the Government Affairs Committee next week. NMMA also expects a house companion bill to be introduced next week.
In Florida, uniform titling bill HB475 will be heard in the State Affairs Committee today, while its senate companion, SB676, passed the first of three committees unanimously on Tuesday. “These bills would strengthen Florida’s existing titling law by providing consumers with an added layer of protection from buying a previously damaged or destroyed boat,” said the story.
Georgia’s House Bill 314 would establish a titling program in Georgia. It is scheduled to be heard on the senate floor today. This bill passed the house chamber and senate committees earlier this month. Georgia does not have any boat titling protections.