VEH CD-SALVAGE CERTIFICATES Senate SponsorsSen. Iris Y. Martinez 1/9/2007SenateSession Sine Die 625 ILCS 5/3-117.1from Ch. 95 1/2, par. 3-117.1Amends the Illinois Vehicle Code. Provides that a vehicle owned by a self-insured company shall be considered salvage if the vehicle has sustained damage to the extent that the self-insured company determines the vehicle to be a total loss, or if the cost of repairing the damage would be greater than 33 1/3 % of its fair market value. Establishes requirements for obtaining a salvage certificate for the vehicle. Provides for exchange of a salvage certificate for a certificate of title if a vehicle owned by a self-insured company that was declared a total loss because of a theft is recovered without damage. 1/12/2006SenateFiled with Secretary by Sen. Iris Y. Martinez 1/12/2006SenateFirst Reading 1/12/2006SenateReferred to Rules 1/9/2007SenateSession Sine Die