Requires motor vehicle dealer franchisors to fully compensate franchised motor vehicle dealers for warranty service agreements

This bill requires motor vehicle dealerships to receive full and fair payment from their franchisors for all warranty-related work, including repairs, diagnostics, and parts. It mandates that payments for approved claims be made within thirty days and sets a specific method for calculating compensation based on the rates dealers charge their own customers for similar non-warranty services. The law also establishes a process for dealers to declare their reimbursement rates and limits exclusions to items like wholesale parts, tires, and routine maintenance. By defining "reasonable compensation" and outlining dispute resolution steps, the bill aims to ensure dealers are not underpaid for services performed under manufacturer warranties.