2025 Regular Session • Rhode Island Legislature
H5567: Prohibits disclosure terms "down payment", "money down", or any similar language to describe lump sum payments in order to reduce monthly lease payments. Provides that lump sum payments are non-refundable in the event of a total loss of the vehicle.
Legislative Summary
COMMERCIAL LAW -- GENERAL REGULATORY PROVISIONS -- DECEPTIVE TRADE PRACTICES - Prohibits disclosure terms "down payment", "money down", or any similar language to describe lump sum payments in order to reduce monthly lease payments. Provides that lump sum payments are non-refundable in the event of a total loss of the vehicle.
Demographic Impact
Overall analysis of equity impact
Neutral
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Bill History
2/26/2025
Introduced, referred to House Corporations
House of Representatives
3/7/2025
Scheduled for hearing and/or consideration (03/13/2025)
House of Representatives
3/13/2025
Committee recommended measure be held for further study
House of Representatives
Status Information
Current Status
Introduced(2/26/2025)
Chamber
House of Representatives
Committee
Corporations(House of Representatives)
Sponsors
Republican: 1
Primary Sponsor
Brian Newberry
Republican