Electronic Payment Processing Fees for Motor Vehicle Purchases

The bill was updated from a draft version to a committee version, changing the new statute number from 520.083 to 520.105 and adding a specific definition for 'ACH payment'. The most significant policy change is the introduction of a fee cap, limiting convenience fees to the lesser of $10 or 3% of the payment amount, and the addition of a mandatory requirement for dealers to offer ACH payments without charging a fee.