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Rental Purchase Act Passes Wisconsin Assembly; Bill Goes To Governor
03-09-06
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For the first time, Wisconsin will have comprehensive legislation governing rental purchase transactions.

Wisconsin
Concurrence
Vote breakdown

55 - 37
See all votes here

Late Thursday, the Wisconsin Assembly voted 55 to 37 in favor of SB268, the Wisconsin Rental Purchase Agreement Act. The Act, passed by the senate on March 2nd, recognizes rental purchase agreements as a lease, rather than a credit sale. The bill also protects consumers by strictly defining disclosure requirements. 

The bill now goes to Governor Jim Doyle's desk for his signature.

Passage of the Act will give Wisconsin rental companies and consumers the same rights enjoyed in 46 other states.

Jeff Lebakken, who has worked toward this moment for 19 years, said he felt a "wave of relief" when the vote totals were reported in the Assembly. Lebakken, owner of  Wisconsin based Lebakkens Rent to Own, and Rent-A-Center General Counsel Chris Korst, both key players in the process, were on hand with other supporters for the vote.

Audio available soon...developing

 

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