New Jersey Assembly Bill A4787

New Jersey 2022-2023 Regular Session

• Introduced: 10/17/22
• Refer: 10/17/22

Caption

Prohibits towing companies from requiring owners of stolen motor vehicles to pay fee to release vehicles from storage facilities under certain circumstances.

Impact

This legislation will significantly impact the financial burden on victims of motor vehicle theft, especially for those who may face financial hardships. By removing the upfront cost typically associated with retrieving a recovered stolen vehicle, the bill aims to streamline the recovery process and ease the stress for vehicle owners, contributing positively to public safety efforts. Additionally, insurance companies or the State Motor Vehicle Commission will cover the fees associated with the vehicle's release after the initial 72 hours.

Summary

Assembly Bill A4787 amends the 'Predatory Towing Prevention Act' to assist owners of stolen motor vehicles by prohibiting towing companies from charging fees to release these vehicles from storage facilities under certain conditions. Specifically, the bill mandates that if the owner presents a police report confirming the vehicle's theft, they cannot be charged a fee for vehicle retrieval within 72 hours of law enforcement contact regarding the recovery of the vehicle. After that grace period, towing companies may charge for any additional days the vehicle remains in storage.

Contention

The implementation of AB A4787 may face challenges, particularly from the towing industry, which could argue that the inability to charge immediate fees may affect their revenue streams. Opponents of the bill may raise concerns regarding how these fees will be covered by insurance or state funding, and whether such measures could lead to increased costs for insurers. Nonetheless, advocates view the bill as a vital step in protecting consumers from potential predatory practices in vehicle towing and recovery following theft.