MS HB303

Expands the definition of "motor vehicle" in Mississippi law to include leased vehicles and rent-to-own vehicles, with specific definitions for each type.

Requires insurance companies to provide the Department of Public Safety with vehicle descriptions (including VINs) and notify the department within 15 days when a motor vehicle liability insurance policy lapses.

Mandates that vehicle owners have 30 days after receiving notice of lapsed insurance to provide proof of coverage or face suspension of vehicle registration and driver's license until proof is provided.

Requires registered owners, lessees, or renters to maintain liability insurance meeting minimum coverage amounts ($25,000 per person, $50,000 per accident for bodily injury, $25,000 for property damage).

Requires lessees or renters who exercise their purchase option to apply to the Department of Revenue for a new title reflecting the change in ownership status.