ASSEMBLY CONSUMER AFFAIRS COMMITTEE

STATEMENT TO

ASSEMBLY, No. 2669

with committee amendments

STATE OF NEW JERSEY

DATED:  MARCH 5, 2020

      The Assembly Consumer Affairs Committee reports favorably and with committee amendments Assembly Bill No. 2669.

      As amended and reported by the committee, this bill expands the definition of “motor vehicle ancillary production product” to include motor vehicle key fobs that have become lost or stolen, leased motor vehicle excess wear and use protection, and other services that may be approved by the director.  The bill defines “leased motor vehicle excess wear and use protection” as the repair, replacement, or maintenance of property, or indemnification for repair, replacement, or maintenance, due to excess wear and use; damage for items such as tires, paint cracks or chips, interior stains, rips or scratches, exterior dents or scratches, windshield cracks or chips, missing interior or exterior parts or excess mileage that results in a lease-end charge; or any other charge for damage that is deemed as excess wear and use by a lessor under a motor vehicle lease. 

      The bill provides that in the case of a service contract that covers leased motor vehicle excess wear and use protection, a payment under the contract is not to exceed the purchase price of the vehicle. 

COMMITTEE AMENDMENTS:

      The committee amended the bill to make the effective date the first day of the third month following enactment.  As introduced, the bill would have been effective immediately.