108 STAT. 982 PUBLIC LAW 103-272—JULY 5, 1994 (2) The Secretary may make grants to participating States to be used in making titling information maintained by those States available to the operator if— (A) the grant to a State is not more than the lesser of— (i) 25 percent of the cost of making titling information maintained by that State available to the operator as deter- 1' mined by the Secretary under paragraph (1)(B) of this subsection; or (ii) $300,000; and (B) the Secretary decides that the grants are reasonable and necessary to establish the System. (d) REPORT TO CONGRESS.—Not later than January 1, 1997, the Secretary shall report to Congress on which States have met the requirements of this section. If a State has not met the requirements, the Secretary shall describe the impediments that have resulted in the State's failure to meet the requirements. § 30504. Reporting requirements (a) JUNK YARD AND SALVAGE YARD OPERATORS.— (1) Beginning at a time established by the Secretary of Transportation that is not sooner than the 3d month before the establishment or designation of the National Automobile Title Information System under section 30502 of this title, an individual or entity engaged in the business of operating a junk yard or salvage yard shall file a monthly report with the operator of the System. The report shall contain an inventory of all junk automobiles or salvage automobiles obtained by the junk yard or salvage yard during the prior month. The inventory shall contain— (A) the vehicle identification number of each automobile obtained; (B) the date on which the automobile was obtained; (C) the name of the individual or entity from whom the automobile was obtained; and (D) a statement of whether the automobile was crushed or disposed of for sale or other purposes. (2) Paragraph (1) of this subsection does not apply to an individual or entity— (A) required by State law to report the acquisition of junk automobiles or salvage automobiles to State or local authorities if those authorities make that information available to the operator; or (B) issued a verification under section 33110 of this title stating that the automobile or parts from the automobile are not reported as stolen. (b) INSURANCE CARRIERS.— Beginning at a time established by the Secretary that is not sooner than the 3d month before the establishment or designation of the System, an individual or entity engaged in business as an insurance carrier shall file a monthly report with the operator. The report may be filed directly or through a designated agent. The report shall contain an inventory of all automobiles of the current model year or any of the 4 prior model years that the carrier, during the prior month, has obtained possession of and has decided are junk automobiles or salvage automobiles. The inventory shall contain— (1) the vehicle identification number of each automobile obtained; (2) the date on which the automobile was obtained;
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