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The Florida Senate

CS/CS/HB 605: Asset Protection Products

GENERAL BILL by Commerce Committee ; Insurance & Banking Subcommittee ; Tramont

Asset Protection Products; Specifies requirement regarding amount charged or financed for vehicle value protection agreement; specifies financial security requirements for providers; requires vehicle value protection agreements to include certain written disclosures in clear & understandable language & state terms, restrictions, or conditions governing cancellation; defines "excess wear & use waiver"; authorizes retail lessee to contract with retail lessor for an excess wear & use waiver; prohibits conditioning terms of consumer's motor vehicle lease on his or her payment for any excess wear & use waiver; requires certain disclosures for lease agreement that includes an excess wear & use waiver.

Effective Date: 10/1/2024
Last Action: 3/4/2024 House - Laid on Table, companion bill(s) passed, see CS/CS/SB 902 (Ch. 2024-142)
Bill Text: PDF



Bill History

Date Chamber Action
11/21/2023 House • Filed
11/30/2023 House • Referred to Insurance & Banking Subcommittee
• Referred to State Administration & Technology Appropriations Subcommittee
• Referred to Commerce Committee
• Now in Insurance & Banking Subcommittee
1/9/2024 House • 1st Reading (Original Filed Version)
1/16/2024 House • Added to Insurance & Banking Subcommittee agenda
1/18/2024 House • Favorable with CS by Insurance & Banking Subcommittee
1/19/2024 House • Reported out of Insurance & Banking Subcommittee
• Laid on Table under Rule 7.18(a)
• CS Filed
1/22/2024 House • Referred to State Administration & Technology Appropriations Subcommittee
• Referred to Commerce Committee
• Now in State Administration & Technology Appropriations Subcommittee
• 1st Reading (Committee Substitute 1)
2/2/2024 House • Added to State Administration & Technology Appropriations Subcommittee agenda
2/6/2024 House • Favorable by State Administration & Technology Appropriations Subcommittee
• Reported out of State Administration & Technology Appropriations Subcommittee
• Now in Commerce Committee
2/13/2024 House • Added to Commerce Committee agenda
2/15/2024 House • Favorable with CS by Commerce Committee
2/16/2024 House • Reported out of Commerce Committee
• Laid on Table under Rule 7.18(a)
• CS Filed
2/19/2024 House • Bill referred to House Calendar
• 1st Reading (Committee Substitute 2)
• Added to Second Reading Calendar
3/4/2024 House • Laid on Table, companion bill(s) passed, see CS/CS/SB 902 (Ch. 2024-142)