Senate committee substitute makes the following changes to the 1st edition.

Changes the long title to AN ACT TO MODIFY THE REQUIREMENTS FOR MOTOR VEHICLE DEALER RECORDS RETENTION, AVAILABILITY FOR INSPECTION BY THE DIVISION OF MOTOR VEHICLES, AND FORMAT.

Changes the short title.

Deletes all provisions of the previous edition and replaces them with the following.

Amends GS 20-297, concerning retention and inspection of certain records by motor vehicle dealers, to provide that a dealer may satisfy the recordkeeping requirements, as specified, by either (1) keeping and maintaining written or paper records (previously, did not specify records be written on paper) at the dealership facility where the vehicles were sold or at another site (previously, at another established office located) within the State provided that the location and name of a designated contact agent are provided to the Division of Motor Vehicles (Division) or (2) maintaining electronic copies of the required records, provided that the Division has access to these electronic records from a location within the State (previously, did not allow for maintaining electronic copies of records to satisfy the recordkeeping requirements). Provides that, for purposes of the statute, the location where dealership written or electronic records are kept and maintained may be owned and operated by a party other than a dealer. Makes technical changes.

Adds new subsection (c) to provide for records format under the statute and allow for records kept and maintained in electronic form without retention of the original or any copies in paper or nonelectronic form.

Directs the Division to adopt rules consistent with the act. Provides that rules adopted pursuant to the statute, as amended, are not subject to GS 150B-19.1(e) (APA requirement for agency to quantify costs and benefits of proposed rule), GS 150B-19.1(f) (APA requirement for agency to determine substantial economic impact of proposed rule), and GS 150B-21.4 (APA requirement of fiscal and regulatory impact analysis on proposed rules).