Governor Eric Holcomb recently signed into law a proposal that changes the type of titles issued for specialty-built cars.
In the bill sponsored by State Representative Jack Jordan (R-Bremen), newly produced vehicles would discontinue using a reconstructed title, which is equated to a salvaged title in other states. Jordan says the current titling law discourages out-of-state customers when purchasing specialty-made cars from Indiana businesses. He believes Senate Enrolled Act 340 will help to stimulate economic opportunities in Indiana.
Specialty-built vehicles are manufactured as replicas of older style cars produced at last 25 years ago. Examples of duplicate vehicles include the 1955 Porsche Spyder and the 1965 Shelby Cobra, which are often home-built by an individual using a kit reproduced by low-volume manufacturers.
A summer study committee will examine similar legislation in 23 states to determine other titling issues involving replica cars. The committee will do so with the help of the Bureau of Motor Vehicles.
