The bill amends Minnesota Statutes 2022, section 168.27, subdivision 31, to increase the maximum documentary fees that motor vehicle dealers can charge for sales and leases. Specifically, it allows dealers to charge a documentary fee of the lesser of $200 or ten percent of the sale or lease value for transactions occurring between July 1, 2023, and June 30, 2024. For transactions after June 30, 2025, the maximum fee will increase to the lesser of $350 or ten percent of the sale or lease value.

Additionally, the bill clarifies that the documentary fee does not include optional electronic transfer fees. The effective date for these changes is set for motor vehicle sales and leases made on or after July 1, 2023. The previous maximum fees of $100 and $125, which were applicable for earlier years, have been deleted from the statute.

Statutes affected:
Introduction: 168.27
1st Engrossment: 168.27
1st Engrossment: 168.27