TWT H.B. 3543 75(R)BILL ANALYSIS TRANSPORTATION H.B. 3543 By: Bosse 4-25-97 Committee Report (Unamended) BACKGROUND Under current law, only designated lease facilitators and specific exempted licensed vehicle dealers may lease vehicles. However, there is no penalty for unlicensed lessors or lessees using the word "lease" or "leasing" in their name. PURPOSE The purpose of HB. 3543 is to stop independent dealers and other unlicensed entities from using the word "lease" or "leasing" in their names. This bill would also encourage those who are not licensed and are in the leasing business to obtain a license. RULEMAKING AUTHORITY It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency or institution. SECTION BY SECTION ANALYSIS SECTION 1. Amends Subchapter E, Texas Motor Vehicle Commission Code (Article 4413(36), Vernon's Texas Civil Statutes), by adding Section 5.05 to prevent a person from using the words "lease" or "leasing" or any variation of those words in the name of the person or the name of an entity owned by the person unless the person is a licensed lease facilitator or is exempt under Section 4.01. SECTION 2. Emergency clause. Effective upon passage.