VEHICLE DEALER: LESSOR - S.B. 246 (S-1): FLOOR ANALYSIS

sans-serif">Senate Bill 246 (Substitute S-1 as reported)

Sponsor: Senator Jud Gilbert, II

Committee: Economic Development, Small Business and Regulatory Reform

CONTENT

The bill would amend the Michigan Vehicle Code to specify that a lessor selling one or more off lease vehicles would not be considered a “dealer” under the Code. (An off lease vehicle is a vehicle that has been returned to the lessor after the lease expires.)

The Code prescribes the conditions under which a person is or is not considered a dealer. A dealer is required to be licensed as prescribed in the Code, and comply with certain requirements.

MCL 257.11 - Legislative Analyst: George Towne

FISCAL IMPACT

The bill would have no fiscal impact on State or local government.

Date Completed: 5-8-03 - Fiscal Analyst: Craig ThielFloor\sb246 - Bill Analysis @ www.senate.michigan.gov/sfa

This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.