Amendment AA3-ASA1-AB759

LRBa2266/1

ARG:klm

2017 - 2018 LEGISLATURE

ASSEMBLY AMENDMENT 3, TO ASSEMBLY SUBSTITUTE AMENDMENT 1, TO ASSEMBLY BILL 759

February 20, 2018 - Offered by Representative Novak.

AB759-ASA1-AA3,1,1 At the locations indicated, amend the substitute amendment as follows:

AB759-ASA1-AA3,1,2 1. Page 5, line 8: after that line insert:

AB759-ASA1-AA3,1,6 “(1g) “Balloon payment” means any payment for the purchase or use of rental property that is more than the regularly scheduled periodic payment amount but not including any optional fees or charges permitted under the rental-purchase agreement.”.

AB759-ASA1-AA3,1,7 2. Page 5, line 9: delete “(1)" and substitute “(1m)".

AB759-ASA1-AA3,1,8 3. Page 11, line 15: after that line insert:

AB759-ASA1-AA3,1,11 “(6) Balloon payments. Any provision that requires the lessee to make a balloon payment to acquire ownership of the rental property, not including any payment necessary to exercise an early-purchase option.”.

AB759-ASA1-AA3,1,12 (End)