Establishes an electronic lien and titling system for New Jersey motor vehicles.

The bill establishes an electronic lien and titling system for New Jersey motor vehicles. It mandates that the New Jersey Motor Vehicle Commission (MVC) study whether it has the resources to implement the system within 12 months of the bill's enactment. If the MVC lacks the resources, it must contract with a qualified bidder to establish the system. The contract must be for at least seven years, be no-cost to the MVC, and allow the successful bidder to charge participating lienholders reasonable fees.

Establishes an electronic lien and titling system for New Jersey motor vehicles.

The bill establishes an electronic lien and titling system for New Jersey motor vehicles. It mandates that the New Jersey Motor Vehicle Commission (MVC) study whether it has the resources to implement the system within 12 months of the bill's enactment. If the MVC lacks the resources, it must contract with a qualified bidder to establish the system. The contract must be for at least seven years, be no-cost to the MVC, and allow the successful bidder to charge participating lienholders reasonable fees.