NY S08530

Adds "vehicle cost recovery fee" definition to General Business Law Section 396-z, allowing rental companies to recover actual costs for titling, registering, plating, and inspecting vehicles in New York.

Requires rental companies to determine the fee annually through an audit of the preceding year's actual costs, with flexibility to adjust during the calendar year to reflect actual expenses.

Mandates rental companies retain audit records for at least five years and make them available upon written request to the Department of State, Department of Motor Vehicles, and Attorney General.

Permits rental companies to separately state and charge the vehicle cost recovery fee on rental agreements as a distinct line item, in addition to rental rates, taxes, airport fees, and mileage charges.

Takes effect 60 days after enactment, with the amendments expiring when Section 396-z expires.