Nathan Sosa
- Democratic
- Representative
- District 30
Primary
Requires a seller in a motor vehicle transaction that involves a retail installment contract or lease agreement to make a good faith effort to sell the retail installment contract or lease agreement to a lender on the exact terms that the seller and buyer negotiated. Requires the seller to undertake certain actions if the lender does not agree to buy the retail installment contract or lease agreement within 10 calendar days after the buyer takes possession of the motor vehicle. Prohibits the seller from selling or paying off a loan balance for any trade-in vehicle that is part of the transaction before receiving a lender's final approval of funding. Specifies the liabilities a seller has for failing to comply with the prohibitions. Requires the seller to provide the buyer with certain disclosures before concluding the transaction. Punishes a violation of the Act as an unlawful practice under the Unlawful Trade Practices Act.
Chapter 81, (2025 Laws): Effective date January 1, 2026.
Governor signed.
President signed.
Speaker signed.
House concurred in Senate amendments and repassed bill.
Third reading. Carried by Taylor. Passed.
Second reading.
Recommendation: Do pass with amendments to the A-Eng. bill. (Printed B-Eng.)
Work Session held.
Work Session held.
Public Hearing held.
Referred to Labor and Business.
First reading. Referred to President's desk.
Third reading. Carried by Sosa. Passed.
Rules suspended. Carried over to April 10, 2025 Calendar.
Rules suspended. Carried over to April 9, 2025 Calendar.
Second reading.
Recommendation: Do pass with amendments and be printed A-Engrossed.
Work Session held.
Public Hearing held.
Referred to Commerce and Consumer Protection.
First reading. Referred to Speaker's desk.
| Bill Text Versions | Format |
|---|---|
| A-Engrossed | |
| B-Engrossed | |
| Enrolled | |
| House Amendments to Introduced | |
| Introduced | |
| Senate Amendments to A-Engrossed | |
| HCCP Amendment -3 | |
| SLB Amendment -A4 |
| Document | Format |
|---|---|
| 2025-03-25 Proposed Amendment -1 | |
| 2025-03-27 Proposed Amendment -3 | |
| 2025-03-27 Proposed Amendment -1 |
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