03RS SB93


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SB 93 (BR 957) - V. Moore

     AN ACT relating to motor vehicle leasing.
     Create a new section of KRS Chapter 186A to provide that leases of motor vehicles and trailers which contain a price adjustment clause do not become sales contracts or create security interests in the vehicles or trailers solely because of the presence of the price adjustment clause.


     HCS - Retain the provisions of the original bill with the following change: provide for the bill to be enacted as a new section of KRS Chapter 355, governing the Uniform Commercial Code, rather than Chapter 186A governing the titling of motor vehicles.

     HCA (1, R. Webb) - Delete original provisions; authorize projects from the local government economic development fund.

     HCA (2/Title, R. Webb) - Make title amendment.

     HFA (1, H. Collins) - Retain the provisions of the House Committee Substitute with the following changes: Amend the chapter where the provisions will be codified from KRS Chapter 355 to KRS Chapter 186A and clarify that the provisions of the bill apply only to commercial fleets of motor vehicles or trailers leased by one business to another business under a terminal rental adjustment clause, commonly referred to as TRAC vehicle leasing.

     HFA (2/P, T. Burch) - Attach the provisions of HB 292.

     HFA (3/Title, T. Burch) - Make title amendment.

     Feb 4-introduced in Senate
     Feb 7-to Transportation (S)
     Feb 19-reported favorably, 1st reading, to Consent Calendar
     Feb 20-2nd reading, to Rules
     Feb 21-posted for passage in the Consent Orders of the Day for Monday, February 24, 2003
     Feb 24-3rd reading, passed 34-0; received in House
     Feb 25-to Transportation (H)
     Feb 26-posted in committee; posting waived
     Feb 27-reported favorably, 1st reading, to Calendar with Committee Substitute
     Feb 28-2nd reading, to Rules
     Mar 3-floor amendment (1) filed to Committee Substitute
     Mar 4-recommitted to Appropriations and Revenue (H)
     Mar 5-floor amendment (2) filed to Committee Substitute, floor amendment (3) filed
     Mar 11-reported favorably, to Rules with committee amendments (1) and (2-title) ; placed in the Orders of the Day; 3rd reading, passed 82-7 with committee amendments (1) and (2-title) ; received in Senate; posted for passage for concurrence in House committee amendments (1) and (2-title) ; Senate concurred in House committee amendments (1) and (2-title) ; passed 32-0; enrolled, signed by each presiding officer; delivered to Governor
     Mar 18-signed by Governor (Acts ch. 75)

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