Modifies vessel registration provisions.

Requires the department of licensing to: (1) Provide or approve reports of sale forms;

(2) Provide a system enabling a vessel owner to submit reports of sale electronically;

(3) Immediately update the vessel record when a report of sale has been filed;

(4) Provide instructions on release of interest forms; and

(5) Send a report to the department of revenue that lists vessels for which a report of sale has been received but no transfer of ownership has taken place.