June 2021

 

 

CONNECTICUT

Among other provisions, Substitute House Bill 6100 modernizes and updates the motor vehicle Lemon Law, lays out procedures for filing a claim, and provides the Department of Consumer Protection increased enforcement mechanisms. Effective October 1, 2021.

 

HAWAII

House Bill 1192 creates a new small dollar installment loan scheme for loans up to $1,500. These loans must be precomputed. The maximum allowed interest rate is 36% with a maximum total rate for all interest and fees of 50% of the principal amount. A monthly maintenance fee is allowed: $25 on original principal amount up $299.99, $30 on an original principal amount of at least $300, up to $699.99, or $35 on an original principal amount of at least $700 or greater. Bill effective July 1, 2021; licensing requirements effective January 1, 2022.

 

LOUISIANA

House Bill 147 authorizes public license tag agents to charge a $23 convenience fee for their services. Previously that convenience fee was $18. Effective August 1, 2021.

Senate Bill 67 raises the Documentary Service Fee for the sale of a motor vehicle from $200 to $425. Effective August 1, 2021.

 

MAINE

Legislative Document 1141 amends the Service Contracts Act to include the replacement of motor vehicle keys or key fobs among other provisions. Effective 90 days after sine die adjournment.

 

MARYLAND

Signed on May 30, 2021, House Bill 44 creates the Clean Cars Act of 2021. Among other provisions, the bill extends the vehicle excise tax credit for the purchase of certain electric vehicles. Effective July 1, 2021.

 

NEBRASKA

Legislative Bill 649 establishes the Nebraska Financial Innovation Act to create digital asset depository institutions as a new financial institution to be supervised by the Nebraska Department of Banking and Finance. Effective August 27, 2021.

 

NEVADA

Assembly Bill 281 requires motor vehicle dealers to share certain records for short-term lessors be with the Department of Taxation, the Department of Motor Vehicles and certain local government employees upon request. Effective October 1, 2021.

Assembly Bill 298 affects motor vehicle leases in the state of Nevada. Among other updates to the law, the bill establishes the conditions under which a default by a lessee may be enforced, sets certain requirements for a lease, and requires certain language in lease contracts. Effective October 1, 2021.

 

SOUTH CAROLINA

House Bill 3505 applies the infrastructure maintenance fee to vehicle leasees at the time of registration at the Department of Motor Vehicles. Effective May 17, 2021.

 

TEXAS

House Bill 1698 allows for a county to charge a fee during vehicle registration in order to raise funds for a transportation project. Effective 90 days after sine die adjournment.

House Bill 2152 allows for online vehicle registration renewal. Effective September 1, 2021.

 

 

 

OKLAHOMA

The Department of Consumer Credit published the changes in dollar brackets for Retail Installment Sales and Consumer Loans. Effective July 1, 2021.

 

TENNESSEE

Tennessee House Bill 421 was signed into law on April 7, 2021. This new law increases fees and adds new fees an industrial loan entity may charge. Effective July 1, 2021.

 

TEXAS

The Texas Office of Consumer Credit Commissioner published dollar amount brackets and ceilings subject to adjustment in the Texas Financial Code for Retail Installment Sales and Consumer Loans. Effective July 1, 2021.

 

WYOMING

Signed into law on February 9, 2021, HB 8 consolidates consumer credit provisions for loans. Effective July 1, 2021.