2005 House Bill 5353 / Public Act 319

Allow car loans to wrap in additional costs

Introduced in the House

Oct. 25, 2005

Introduced by Rep. David Robertson (R-51)

To allow money still owed on a used trade-in vehicle to be "rolled over" into a new vehicle loan.

Referred to the Committee on Banking and Financial Services

Nov. 30, 2005

Reported without amendment

With the recommendation that the substitute (H-1) be adopted and that the bill then pass.

Substitute offered

To replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described.

The substitute passed by voice vote

Dec. 1, 2005

Passed in the House 106 to 0 (details)

Received in the Senate

Dec. 6, 2005

Referred to the Committee on Banking and Financial Institutions

Dec. 13, 2005

Reported without amendment

With the recommendation that the amendment be adopted and that the bill then pass.

Amendment offered

To clarify that the bill applies to debt on a trade in vehicle.

The amendment passed by voice vote

Passed in the Senate 38 to 0 (details)

To allow money still owed on a used trade-in vehicle to be "rolled over" into a new vehicle loan.

Received in the House

Dec. 13, 2005

To concur with the Senate-passed version of the bill.

Passed in the House 107 to 0 (details)

Signed by Gov. Jennifer Granholm

Dec. 22, 2005