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Bill > A00819
NY A00819
NY A00819Limits the amount of certain credit service charges in motor vehicle retail installment contracts.
summary
Introduced
01/06/2021
01/06/2021
In Committee
01/05/2022
01/05/2022
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
2021-2022 General Assembly
Bill Summary
AN ACT to amend the personal property law, in relation to limiting the amount of certain credit service charges in motor vehicle retail installment contracts
AI Summary
This bill amends the Personal Property Law to limit the credit service charges that can be included in motor vehicle retail installment contracts to a maximum of $16 per $100 per annum. The existing law allowed the credit service charge rate to be agreed upon between the retail seller and the buyer, but this bill sets a cap on that rate. The bill also makes a technical correction by changing the spelling of "installment" from "instalment."
Committee Categories
Business and Industry
Sponsors (15)
Judy Griffin (D)*,
Ken Zebrowski (D)*,
Kenny Burgos (D),
Vivian Cook (D),
Inez Dickens (D),
Jeffrey Dinowitz (D),
Richard Gottfried (D),
Aileen Gunther (D),
Kimberly Jean-Pierre (D),
Yuh-Line Niou (D),
Victor Pichardo (D),
Nader Sayegh (D),
Rebecca Seawright (D),
Phara Souffrant Forrest (D),
Al Taylor (D),
Last Action
referred to consumer affairs and protection (on 01/05/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2021/A819 | 12/31/2020 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A00819&term=2021&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A00819 | 12/31/2020 |
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