Truth in Mileage Act of 1986

(Measure passed House, amended, in lieu of H.R. 780) Truth in Mileage Act of 1986 - Amends the Motor Vehicle Information and Cost Savings Act to prohibit the licensing of motor vehicles when the ownership is leased or transferred unless: (1) the application for a new certificate of title is accompanied by the prior owner's title; and (2) the new certificate of title is printed in a specified manner indicating the odometer mileage. Authorizes States to submit alternative mileage disclosure requirements for the approval of the Secretary of Transportation. Provides that auction companies selling motor vehicles must maintain records showing: (1) the name of the most recent owner; (2) the vehicle identification number; and (3) the odometer reading on the date the auction company took possession of the vehicle. Requires such mileage information to be disclosed by the lessee to the lessor of a leased motor vehicle when the lessor transfers ownership of the vehicle. Increases the civil penalty for violations of the odometer requirements from $1,000 to $2,000, and increases the criminal penalty for such violations from one to three years maximum imprisonment.

(Measure passed Senate, amended) Amends the Motor Vehicle Information and Cost Savings Act to prohibit the registration or licensing of motor vehicles when the ownership is transferred in interstate commerce unless: (1) the application for a new certificate of title is accompanied by the prior owner's title and mileage; and (2) the new certificate of title is printed in a specified manner and includes the odometer mileage. Prohibits State issuance of a registration card for a motor vehicle used in interstate commerce unless the application indicates the mileage of the motor vehicle on the application date. Requires each State to maintain such information, together with the vehicle identification number for a five year period. Authorizes States to submit alternative mileage disclosure requirements for the approval of the Secretary of Transportation. Requires the Secretary to prescribe rules: (1) to avoid false or misleading mileage information; (2) for the specific form of mileage disclosure to be used on certificates of title; and (3) regarding State actions concerning unauthorized alteration of motor vehicle documents containing odometer information. Provides that a motor vehicle auction company must maintain records showing: (1) the name of the most recent owner; (2) vehicle identification number; and (3) the odometer reading on the date the auction company took possession of the vehicle. Requires written disclosure of the odometer mileage by the lessee of a leased motor vehicle to the lessor upon the end of the lease term. Requires the lessor to retain such information for four years after the date on which such lessor transfers ownership of the vehicle to another person. Increases the civil penalty for violations of the odometer requirements from $1,000 to $2,000, and increases the criminal penalty for such violations from one year to three years maximum imprisonment.

Amends the Motor Vehicle Information and Cost Savings Act to prohibit the registration or licensing of motor vehicles when the ownership is transferred in interstate commerce unless: (1) the application for a new certificate of title is accompanied by the prior owner's most recent registration card and title; and (2) the new certificate of title is printed in a specified manner and includes the odometer mileage. Prohibits State issuance of a registration card for a motor vehicle used in interstate commerce unless the application indicates the mileage of the motor vehicle on the application date. Authorizes States to submit alternative mileage disclosure requirements for the approval of the Secretary of Transportation. Provides that a motor vehicle auction company must maintain records showing: (1) the name of the most recent owner; (2) vehicle identification number; and (3) the odometer reading on the date the auction company took possession of the vehicle. Increases the civil penalty for violations of the odometer requirements from $1000 to $2,000, and increases the criminal penalty for such violations from one to three years maximum imprisonment.