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SF 721

1st Engrossment - 93rd Legislature (2023 - 2024) Posted on 10/25/2023 10:35am

KEY: stricken = removed, old language.
underscored = added, new language.
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A bill for an act
 relating to motor vehicles; increasing maximum documentary fees charged by
dealers on motor vehicle sales and leases; amending Minnesota Statutes 2022,
section 168.27, subdivision 31.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2022, section 168.27, subdivision 31, is amended to read:


Subd. 31.

Documentary fee.

(a) A motor vehicle dealer may not charge a documentary
fee or document administration fee in excess of the amounts provided under paragraph (b)
for services actually rendered to, for, or on behalf of the retail buyer or lessee to prepare,
handle, and process documents for the closing of a motor vehicle retail sale or leasenew text begin of a
vehicle being registered in the state of Minnesotanew text end . The fee must be separately stated on the
sales agreement maintained under Minnesota Rules, part 7400.5200, and may be excluded
from the dealer's advertised price.

(b) For motor vehicle sales or leases made on or after July 1, deleted text begin 2017deleted text end new text begin 2023new text end , through June
30, deleted text begin 2020deleted text end new text begin 2024new text end , the maximum fee is deleted text begin $100deleted text end new text begin the lesser of $200 or an amount equal to ten percent
of the value of the sale or leasenew text end . For motor vehicle sales or leases made on or after July 1,
deleted text begin 2020deleted text end new text begin 2024, through June 30, 2025new text end , the maximum fee is deleted text begin $125deleted text end new text begin the lesser of $275 or an amount
equal to ten percent of the value of the sale or lease. For motor vehicle sales or leases made
on or after July 1, 2025, the maximum fee is the lesser of $350 or an amount equal to ten
percent of the value of the sale or leasenew text end .

(c) "Documentary fee" and "document administration fee" do not include an optional
electronic transfer fee as defined under section 53C.01, subdivision 14.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for motor vehicle sales and leases made
on or after July 1, 2023.
 new text end