HB2773 Summary

• Modifies Annual Dealer Recovery Fund fees for new and used vehicle dealers, exempting dealers selling 25 or fewer automobiles from the fee requirement.

• Establishes tiered renewal fees based on vehicles sold in the past year: $0 for 25 or fewer vehicles, $150 for 26-199 vehicles, $300 for 200-299 vehicles, and $500 for 300+ vehicles.

• Extends the deadline for submitting claims to the Dealer Recovery Trust Fund from 9 months to 2 years after the transaction date.

• Removes language that previously excluded dealers selling 25 vehicles or fewer per calendar year from the definition of "dealer" under the Dealer Recovery Trust Fund provisions.