COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 1544-02
Bill No.: SCS for HB 505
Subject: Motor Vehicles, Consumer Protection
Type: Original
Date: April 16, 2003
FISCAL SUMMARY
| FUND AFFECTED | FY 2004 | FY 2005 | FY 2006 |
| Total Estimated
Net Effect on General Revenue Fund |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2004 | FY 2005 | FY 2006 |
| Total Estimated
Net Effect on Other State Funds |
$0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 3 pages.
| FUND AFFECTED | FY 2004 | FY 2005 | FY 2006 |
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2004 | FY 2005 | FY 2006 |
| Local Government | $0 | $0 | $0 |
ASSUMPTION
Officials with the Department of Revenue, Department of Insurance, Office of State Courts Administrator and Department of Labor and Industrial Relations assume this proposal would have no fiscal impact on their agencies.
| FISCAL IMPACT - State Government | FY 2004
(10 Mo.) |
FY 2005 | FY 2006 |
| $0 | $0 | $0 |
| FISCAL IMPACT - Local Government | FY 2004
(10 Mo.) |
FY 2005 | FY 2006 |
| $0 | $0 | $0 |
FISCAL IMPACT - Small Business
Small business dealing in rental vehicles could have to change the way they calculate and charge damages to consumers.
DESCRIPTION
This proposal would prohibits rental companies from collecting more on claims for damages to or loss of rental vehicles than the actual cost of repair or the actual cash value less salvage or disposition proceeds. It would also permit the claim to be based upon a repair invoice prepared by a repair facility.
This legislation is not federally mandated, would not duplicate any other program and would not require additional capital improvements or rental space.
SOURCES OF INFORMATION
Department of Revenue
Department of Insurance
Office of State Courts Administrator
Department of Labor and Industrial Relations
Mickey Wilson, CPA
Director
April 16, 2003