HB 621 - SB 982
FISCAL NOTE
Fiscal Review Committee
Tennessee General Assembly
March 6, 2025
Fiscal Analyst: Laura Moore | Email: laura.moore@capitol.tn.gov | Phone: 615-741-2564
HB 621 - SB 982
SUMMARY OF BILL: Makes changes under the Tennessee Vehicle Protection Product Act (Act).
Specifies that a vehicle protection product warrantor applying for a registration renewal with the
Department of Commerce and Insurance (DCI) is not required to file a copy of a warranty that has
already been registered for use. Requires that such a warrantor provide written notification of any
change to the information contained in the original registration within 30 days of the change.
Specifies that such notification does not require the submission of a new registration application.
FISCAL IMPACT:
NOT SIGNIFICANT
Assumptions:
• The Act’s rules and regulations pursuant to Chapter 0780-1-80-.05 provide that:
o Any person wishing to register or annually renew their registration to operate as a
warrantor is required to submit two copies of each warranty the registrant proposes
to use in this state, including each warranty already registered for use that the
renewal applicant proposes to use;
o The registration fee is $515 initially and annually; and
o Any changes in the registration information provided by the warrantor requires the
warrantor to notify the Commission of DCI in writing within 30 days of a change.
• The proposed legislation will eliminate the need to submit an already registered warranty to
DCI.
• It is assumed, however, that the warrantor will still be required to pay the $515 renewal fee
each year.
• The department can update the rules and regulations under the Act within existing
resources under the normal course of duties during regular business hours.
• Any fiscal impact to state government is considered not significant.
IMPACT TO COMMERCE:
NOT SIGNIFICANT
Assumption:
• The proposed legislation will have no significant impact on jobs or commerce in Tennessee.
HB 621 - SB 982 2
CERTIFICATION:
The information contained herein is true and correct to the best of my knowledge.
Bojan Savic, Executive Director