Amendment SA4-SSA2-SB486

LRBa2887/1

RAC:jld&wlj:jf

2003 - 2004 LEGISLATURE

SENATE AMENDMENT 4, TO SENATE SUBSTITUTE AMENDMENT 2, TO 2003 SENATE BILL 486

March 10, 2004 - Offered by Senator Robson.

SB486-SSA2-SA4,1,1 At the locations indicated, amend the substitute amendment as follows:

SB486-SSA2-SA4,1,2 1. Page 10, line 2: after that line insert:

SB486-SSA2-SA4,1,4 "(2m) Cash price certification. The certification from the division of banking in the department of financial institutions under s. 422.6065.".

SB486-SSA2-SA4,1,5 2. Page 14, line 18: after that line insert:

SB486-SSA2-SA4,2,4 "422.6065 Certification of cash price; report relating to certain credits or rebates provided to rental-purchase companies. (1) The division of banking in the department of financial institutions shall certify that the cash price of any rental property under a rental-purchase agreement does not exceed an amount equal to twice the actual purchase price of the rental property, including any applicable freight charges, paid by the rental-purchase company to a manufacturer or wholesaler. For the purpose of calculating the purchase price of the rental-purchase property, the division shall consider the value of any any credits or rebates provided the rental-purchase company by the manufacturer or wholesaler. The value of any such credits or rebates shall be determined according to a methodology promulgated by the division by rule.

SB486-SSA2-SA4,2,10 (2) If a manufacturer or wholesaler provides a rental-purchase company with any rebate or credit relating to the purchase of property leased under a rental-purchase agreement, the manufacturer or wholesaler shall submit a report to the division of banking in the department of financial institutions specifying the amount of the credit or rebate and the name of the rental-purchase company to which the credit or rebate was provided.".

SB486-SSA2-SA4,2,11 (End)