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Who cares
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Sponsors
Senator · Senate District 59
No co-sponsors yet.
History
- Print number 350a
- Amend (t) and recommit to consumer protection
- Referred to consumer protection
- Referred to consumer protection
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S350A
Title of bill
An act to amend the general business law, in relation to charges by a rental vehicle company for optional vehicle protection
Purpose
To modify section 396-z of the General Business Law, which is concerned with rental vehicle protections.
Summary of provisions
Section one increases the maximum charge for optional vehicle protection to fifteen dollars per day.
Section two of this bill provides an immediate effective date.
Existing law
The maximum charge for optional vehicle protection is twelve dollars per day.
Justification
The current maximum charge for optional vehicle protection is below the market rate. Fifteen dollars is a more accurate estimate of the market rate. Because the rental car market is a competitive market, such forced losses are passed along to consumers by the way of higher use fees. Individuals who already have car insurance, and thus tend not to purchase optional vehicle protection, are thus forced to pay a higher cost for using a rental vehicle without realizing the savings from a below market rate cap on the optional vehicle protection. In effect, these consumers subsidize those without insurance or those who choose to purchase the protection regardless of their insurance status.
Legislative history
New bill
Fiscal implications
None.
Local fiscal implications
None.
Effective date
Immediate.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.