Relating to the documentary fee charged in connection with the sale of certain recreational vehicles and boats.
Impact
By standardizing the handling of documentary fees, HB1233 aims to provide clarity and transparency in retail sales transactions involving recreational vehicles and boats. This reform seeks to protect consumers from excessive charges while ensuring that sellers can still reasonably cover their costs associated with processing sales documents. The requirement for clear disclosure in the transaction documentation is intended to enhance consumer awareness and prevent misunderstandings regarding the nature of the fees being charged.
Summary
House Bill 1233 addresses the documentary fee associated with the sale of specific recreational vehicles and boats within the state of Texas. The bill proposes amendments to Section 345.251 of the Finance Code, detailing how these fees should be handled during retail transactions. It specifies that a documentary fee may be charged for services related to the preparation and processing of sale documents and clarifies that this fee must be disclosed to buyers in an itemized manner. Additionally, the bill sets a cap on the documentary fee, which should not exceed a reasonable amount agreed upon between the seller and the buyer, and also not surpass a maximum amount established by the finance commission, previously set at $50.
Contention
Potential points of contention surrounding this bill may revolve around the interpretation of what constitutes a 'reasonable amount' for the documentary fee, as well as regulatory oversight by the finance commission. Some stakeholders might argue that a set maximum fee limits sellers' ability to charge for legitimate services, while others could contend that it is necessary for consumer protection against predatory fees. The balancing act between seller profitability and consumer rights is likely to be a focal area of discussion as the bill progresses through the legislative process.
Relating to the issuance of certain tags, permits, and license plates authorizing the movement of vehicles and the transfer and renewal of certain license plates.
Relating to the collection, remittance, and administration of certain taxes on motor vehicles rented through a marketplace rental provider; imposing a penalty.
Relating to the collection, remittance, and administration of certain taxes on motor vehicles rented through a marketplace rental provider; imposing a penalty.