Skip to Navigation | Skip to Main Content | Skip to Site Map

MyFloridaHouse.gov | Mobile Site

Senate Tracker: Sign Up | Login

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

Expand All Collapse All

  • 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)

    Top of SectionTop of Page

  • CS/CS/HB 605, Committee Substitute 2 (Current Bill Version) Posted 2/16/2024 at 5:22 PM

    Bill Text:   PDF
    Analyses:   None

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    S 902 (er) Motor Vehicle Retail Financial Agreements Boyd Similar Last Action: 5/7/2024 Chapter No. 2024-142

    Citations - Statutes (9)

    Citation Catchline Location in Bill Location In Bill Help
    520.02 Definitions. Page 3 (pdf)
    520.07 Requirements and prohibitions as to retail installment contracts. Page 4 (pdf)
    520.151 Page 6 (pdf)
    520.152 Page 6 (pdf)
    520.153 Page 7 (pdf)
    520.154 Page 10 (pdf)
    520.155 Page 12 (pdf)
    520.156 Page 13 (pdf)
    520.157 Page 13 (pdf)

    Top of SectionTop of Page

  • CS/HB 605, Committee Substitute 1 Posted 1/19/2024 at 6:36 PM

    Bill Text:   PDF
    Analyses:   State Administration & Technology Appropriations Subcommittee (Post-Meeting) 2/6/2024 (pdf)
    Commerce Committee (Post-Meeting) 2/16/2024 (pdf)

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    S 902 (c2) Motor Vehicle Retail Financial Agreements Boyd Similar Last Action: 5/7/2024 Chapter No. 2024-142

    Committee Amendments (1)

    Amendment Sponsor Filed Last Committee Action Format
    183989 - Amendment
    Remove lines 90-317 and insert:
    Tramont 2/14/2024
    6:34 PM
    Adopted without Objection
    2/15/2024
    PDF

    Citations - Statutes (9)

    Citation Catchline Location in Bill Location In Bill Help
    520.02 Definitions. Page 3 (pdf)
    520.07 Requirements and prohibitions as to retail installment contracts. Page 3 (pdf)
    520.151 Page 5 (pdf)
    520.152 Page 5 (pdf)
    520.153 Page 7 (pdf)
    520.154 Page 10 (pdf)
    520.155 Page 12 (pdf)
    520.156 Page 12 (pdf)
    520.157 Page 13 (pdf)

    Top of SectionTop of Page

  • HB 605, Original Filed Version Posted 11/21/2023 at 8:35 AM

    Bill Text:   PDF
    Analyses:   Insurance & Banking Subcommittee (Post-Meeting) 5/7/2024 (pdf)

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    S 902 (c1) Motor Vehicle Retail Financial Agreements Boyd Similar Last Action: 5/7/2024 Chapter No. 2024-142

    Committee Amendments (1)

    Amendment Sponsor Filed Last Committee Action Format
    365049 - Amendment
    Remove lines 48-421 and insert:
    Tramont 1/17/2024
    6:16 PM
    Adopted without Objection
    1/18/2024
    PDF

    Citations - Statutes (13)

    Citation Catchline Location in Bill Location In Bill Help
    24.118 Other prohibited acts; penalties. Page 16 (pdf)
    501.604 Exemptions. Page 17 (pdf)
    520.02 Definitions. Page 2 (pdf)
    520.07 Requirements and prohibitions as to retail installment contracts. Page 3 (pdf)
    520.1501 Page 5 (pdf)
    520.1502 Page 5 (pdf)
    520.1503 Page 6 (pdf)
    520.1504 Page 9 (pdf)
    520.1505 Page 11 (pdf)
    520.1506 Page 11 (pdf)
    521.003 Definitions. Page 12 (pdf)
    521.007 Page 15 (pdf)
    671.304 Laws not repealed; precedence where code provisions in conflict with other laws; certain statutory remedies retained. Page 17 (pdf)

    Top of SectionTop of Page