Amends existing law to increase the value below which a vehicle is considered low-value for disposition.

The purpose of this legislation is to better streamline a timely method for disposal of abandoned and unclaimed low value vehicles. The current valuation for abandoned vehicle lien sale requirements does not reflect the marketenvironmentthatlawenforcementagenciesandtowcompaniesfindthemselvesin. Withincreasedcosts for towing and storage of abandoned vehicles over the years, tow companies and law enforcement agencies find themselves forced to perform expensive auctions on vehicles whose possessory lien exceeds the abandoned vehicle's market value. By increasing the low dollar valuation, law enforcement and towing companies will be able to yield monetary and man hour savings while maintaining proper notification and due process for vehicle owners and lien holders.