Introduced
by
To give the Secretary of State authority to regulate auto lease transactions comparable to the authority it now has over the sale of cars by dealers, and require licensure for those engaged in "leasing" and "negotiating a lease" of a vehicle for a term of more than 120 days.
Referred to the Committee on Commerce
Substitute offered
To replace the previous version of the bill with one which more clearly defines who would not be considered “dealers,” including financial institutions, insurers, rental companies, and companies that lease fleets of 5 or more semitrailers.
The substitute passed by voice vote
Substitute offered
by
To replace the previous version of the bill with one which adds a provision increasing the fee a local government may charge to inspect a scrapped and salvaged vehicle from $50 to $100.
The substitute passed by voice vote
Passed in the House 95 to 13 (details)
To give the Secretary of State authority to regulate auto lease transactions comparable to the authority it now has over the sale of cars by dealers, and require licensure for those engaged in "leasing" and "negotiating a lease" of a vehicle for a term of more than 120 days. Financial institutions, insurers, rental companies, and companies that lease fleets of 5 or more semitrailers are excluded from the auto dealer license requirements of the bill. The bill also has a provision increasing the fee a local government may charge to inspect a scrapped and salvaged vehicle from $50 to $100.
Substitute offered
To replace the previous version of the bill with one containing technical changes that do not affect its substance as previously described.
The substitute passed by voice vote
Passed in the Senate 35 to 0 (details)
Passed in the House 96 to 8 (details)
To concur with the Senate-passed version of the bill.
