S7553

Senate Print 7553, sponsored by Sen. Thomas and amending the General Business Law, was laid aside before a vote could be taken. The bill, which would have taken effect 180 days after becoming law, was set aside at the request of Sen. Lanza. No debate occurred on the measure.

The New York State Senate passed legislation establishing transparency and regulatory requirements for auto brokers operating in the state, with a 53-9 vote on Senate Print 7553. Sponsored by Sen. Thomas, the bill requires auto brokers to disclose fees and contractual terms upfront to consumers and mandates that out-of-state brokers sourcing vehicles from New York register and comply with the bill's guidelines. During floor debate, Sen. Rhoads raised concerns about language prohibiting brokers from accepting compensation from multiple parties in a single transaction, comparing it unfavorably to real estate brokerage practices where agents commonly represent both buyers and sellers. Sen. Thomas acknowledged the bill is imperfect and committed to addressing the issue through a chapter amendment after passage. Sen. Weik opposed the measure, arguing it adds unnecessary costs and bureaucratic layers for consumers without adequately addressing complaints about extra fees, and contended brokers should face regulations comparable to real estate agents. Nine senators voted against the bill: Borrello, Canzoneri-Fitzpatrick, Chu, Cooney, Kavanagh, Skoufis, Walczyk, Weber, and Weik.