House File 2256

                                       HOUSE FILE       
                                       BY  FORD


    Passed House,  Date               Passed Senate, Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act relating to refunds of motor vehicle registration fees for
  2    leased vehicles.
  3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  4 TLSB 6230YH 80
  5 dea/cf/24

PAG LIN

  1  1    Section 1.  Section 321.127, Code 2003, is amended by
  1  2 adding the following new subsection:
  1  3    NEW SUBSECTION.  5.  If a motor vehicle is leased and the
  1  4 lessee surrenders possession of the vehicle to the lessor
  1  5 prior to the expiration of the lease agreement, the lessor
  1  6 shall refund to the lessee the amount of any registration fee
  1  7 refund for the leased motor vehicle obtainable by the lessor
  1  8 pursuant to this chapter.
  1  9                           EXPLANATION
  1 10    This bill provides that the lessor of a motor vehicle must
  1 11 credit the lessee with any refundable motor vehicle
  1 12 registration fees if the vehicle is surrendered to the lessor
  1 13 prior to expiration of the lease.
  1 14 LSB 6230YH 80
  1 15 dea/cf/24
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