Environmental & Healthcare Legislative Watch50 States · D.C. · U.S. Congress
From official state and federal legislative records. Informational only, not legal advice.
With a committee
A small team of lawmakers (a committee) is reading it closely and deciding if it's a good idea.
Next: the committee votes on whether it moves to the full chamber.
In plain words
AI summaryWritten by AI from the bill text. Check the official text before relying on it.
Fiscal Summary STATE GOVERNMENTREVENUEDepartment of Commerce and InsuranceFY26-27 & Subsequent YearsNET <($36,600) Bill Summary This bill prohibits a provider from offering a vehicle value protection agreement ("agreement") unless the agreement meets this bill's requirements. As used in this bill, a "vehicle value protection agreement" means a contractual agreement between a provider and a contract holder that provides benefits applied toward either: The value of the contract holder's covered vehicle upon the occurrence of an adverse event, including damage incurred and reported on a vehicle history report, causing the covered vehicle to decrease in value; the total loss or unrecovered theft of the covered vehicle that, at the time of the loss or theft, had decreased in value compared to the value of the vehicle at the time it was purchased; or events covered by a contractual agreement between a dealer and a contract holder that provide the contract holder a loyalty benefit when the contract holder returns to the dealer to purchase or lease a replacement vehicle after a total loss, unrecovered theft, or trade-in of the covered vehicle. The finance agreement for or secure bill of sale on a replacement vehicle upon the occurrence of an event. This bill clarifies that the term specifically includes a trade-in agreement, diminished value agreement, cash down payment protection agreement, or depreciation benefit agreement, but the term does not include a debt waiver or a service contract. REQUIREMENTS OF AN AGREEMENT This bill prohibits a provider from conditioning the extension of credit, the terms of credit, or the terms of the related vehicle sale or lease upon the purchase of an agreement. Additionally, an agreement must meet all of the following requirements: Provide a benefit to the contract holder upon the
