|
 This marks
the first time the state senate has passed comprehensive
legislation governing rental purchase transactions.
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SB 268
PASSAGE
Vote breakdown |
AYES − 18
BROWN
COWLES
DARLING
ELLIS
FITZGERALD
HARSDORF
KANAVAS
KAPANKE
KEDZIE
LASEE
LEIBHAM
OLSEN
PLALE
REYNOLDS
ROESSLER
SCHULTZ
STEPP
ZIEN |
NAYS − 14
BRESKE
CARPENTER
COGGS
DECKER
GROTHMAN
HANSEN
JAUCH
LASSA
LAZICH
MILLER
RISSER
ROBSON
TAYLOR
WIRCH
NOT VOTING ERPENBACH |
The Wisconsin Senate passed SB268, the Wisconsin
Rental Purchase Agreement Act Thursday, March 2 by a vote of
18-14. This marks the first time the state senate has passed
comprehensive legislation governing rental purchase
transactions.
The bill protects consumers by strictly defining disclosure
requirements.
Wisconsin is one of only 4 states without comprehensive rent to
own legislation with clear disclosure requirements.
SB268 is supported by both the rent to own and retail sectors in
Wisconsin. Doug Johnson, Sr. VP & General Counsel of the
Wisconsin Merchants Federation testified before a Wisconsin
Senate committee last year on behalf of its
6,000 strong membership in support of the Wisconsin Rental
Purchase Agreements Act. He told the committee, "Consumers should have the choice to rent
merchandise with the option to own it rather than make an
outright purchase. Current law denies that rental choice. SB
486 fixes that problem."
The Act now goes to the state assembly where action is expected
as early as next week.
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