Bill > HB476

This bill amends Louisiana law to establish an annual automatic adjustment to the maximum fee motor vehicle dealers can charge for credit investigation, document preparation, and other related services. Currently set at $425, the fee will be adjusted annually starting January 1, 2026, based on the Consumer Price Index for All Urban Consumers (CPI-U). The annual adjustment will be calculated as the lesser of two methods: either the base fee adjusted by the cumulative percentage change in the CPI-U, or a 3% growth rate applied to the previous year's adjusted maximum fee. If the CPI-U shows a negative change, the fee will remain the same. The Division of Administration will calculate the adjusted fee, which must be verified by the legislative auditor, and then transmitted to the Louisiana Motor Vehicle Commission by February 1st each year. The fee will be rounded to the nearest whole dollar, and the commission is required to publish the updated maximum fee on its official website. This mechanism ensures that the fee can incrementally increase to keep pace with inflation while providing a predictable and transparent adjustment process.

Business and Industry, Transportation and Infrastructure

https://www.legis.la.gov/legis/BillInfo.aspx?s=25rs&b=HB476&sbi=y