Louisiana House Bill HCR184

Louisiana 2015 Regular Session

• Introduced: 5/26/15
• Refer: 5/27/15
• Report Pass: 6/1/15
• Engrossed: 6/3/15
• Passed: 6/7/15

Caption

Directs the Louisiana State Law Institute to study and make recommendations to the legislature regarding the Louisiana Lease of Movables Act

Impact

If enacted, HCR184 would potentially lead to significant amendments to the Louisiana Lease of Movables Act, tailoring the law to better reflect contemporary commercial practices. The resolution aims to ensure that the regulations governing leasing transactions function effectively in the current marketplace, which has become increasingly complex. By initiating a study, HCR184 sets the stage for possible legislative changes that would enhance the state's capacity to accommodate the needs of businesses and consumers engaged in leasing arrangements.

Summary

House Concurrent Resolution 184 (HCR184) is a legislative measure that directs the Louisiana State Law Institute to undertake a study concerning the Louisiana Lease of Movables Act. The goal of this study is to assess the current legal framework governing leases of movable property and to make recommendations for updates to align the law with modern commercial and consumer practices. Acknowledging that the original Act has seen limited review since its enactment in 1985, the resolution advocates for an examination that could lead to improvements in legislative provisions with an emphasis on fostering economic growth and protecting consumers.

Sentiment

The sentiment around HCR184 appears to be generally positive as it is seen as a proactive approach to ensuring that state laws remain relevant and effective in overseeing modern leasing practices. Legislative support for the resolution, which passed with a vote of 32-0 in the Senate, reflects a consensus on the necessity of reviewing and enhancing existing laws. Advocates argue that the update is crucial to maintaining competitive economic conditions and protecting consumers in their leasing transactions.

Contention

While there is broad support for HCR184, discussions may arise concerning the scope and extent of the proposed study. Some stakeholders might express concerns about the potential for regulatory changes that could favor larger businesses at the expense of smaller enterprises or individual consumers. The resolution opens the floor for a range of viewpoints during the study phase, particularly about how best to strike a balance between promoting economic activity and ensuring strong consumer protections in leasing arrangements.