(Lexology – Paul M. Laurenza and Daniel P. Malone, Dykema Gossett PLLC)
The recent, highly publicized Toyota recalls prompted both the U.S. Senate and House of Representatives to conduct public hearings and to introduce companion bills entitled the Motor Vehicle Safety Act of 2010. Both bills propose to a) strengthen vehicle electronics and safety standards; b) increase accessibility to vehicle safety information; c) hold manufacturers more accountable for misleading or incomplete disclosures; and d) provide NHTSA with considerably more funding and authority.
On May 26, 2010, the House Energy and Commerce Committee reported out H.R. 5381. On June 9, 2010, the Senate Commerce Committee reported out S. 3302. This proposed legislation will likely affect all manufacturers in the industry. Dykema continues to monitor these legislative developments closely. For that reason, we forward this report on the current status of this potentially important legislation. It is not intended to be an exhaustive discussion of each bill. Rather, it generally highlights key common provisions, sets forth major differences between the bills and then briefly sets forth the procedural process that lies ahead. For your convenience, the bills are linked above, should you wish to read them in their entirety. Read more here.