Chief Patron: Miyares
Manufacturer First Right of Refusal
Item 458 #1h
Item 458 #1h | First Year - FY2019 | Second Year - FY2020 | |
| Transportation |
| Motor Vehicle Dealer Board | FY2019 $50,000 | FY2020 $50,000 | GF |
Language
Page 474, line 42, strike "$2,697,139" and insert "$2,747,139".
Page 474, line 43, strike "$2,779,014" and insert "$2,829,014".
Page 475, after line 6, insert:
"Included in the amounts for this item is $50,000 the first year and $50,000 the second year from the general fund to implement the provisions of House Bill 2174, 2019 Session of the General Assembly."
Explanation
(This amendment provides $50,000 from the general fund each year to implement the provisions of House Bill 2174, 2019 Session of the General Assembly relating to manufacturer or distributor right of first refusal. The legislation provides that if a motor vehicle manufacturer or factory branch transfers or discontinues its right to manufacture a line-make of motor vehicles, all franchises granted to motor vehicle dealers by that manufacturer in the Commonwealth shall continue in full force, with modification to reflect that the new manufacturer of that line-make of motor vehicles will be substituted for the prior manufacturer. The bill provides that a manufacturer or distributor's right to first refusal in the event of a proposed sale or transfer of a dealership does not apply if such sale or transfer is not to a dealer licensed anywhere in the United States as a dealer holding a franchise from any manufacturer or to a distributor licensed as a manufacturer or distributor in the Commonwealth.)