AFSA Comments on Texas Retail Bad Debt Bill
This past week, AFSA’s state government affairs team sent a letter to the Texas House of Representatives expressing support on HB 3389. The bill would amend state law that would improve efficiency in the vehicle finance industry. Under the bill, financial institutions would be able to claim a refund of motor vehicles sales taxes paid on uncollectable or charged off accounts. These changes would provide lenders a method for recovering uncollected sales taxes and limit losses in vehicle financing transactions. Ultimately, this would increase the ability of lenders to provide credit to Texas consumers, who will have an easier time securing credit and affording the vehicles they rely on in their daily lives.
SGA also recently sent letters on California rulemaking, Colorado HB 1229, Florida SB 564, Illinois HB 3326, Oregon HB 2008, and Texas SB 1083. These letters, along with SGA’s other comment letters and testimonies, can be found on the SGA direct advocacy section of AFSA’s website.
May 4th, 2023
