This bill establishes provisions for the early termination of motor vehicle leases in the event of the lessee's death. It mandates that dealers or lessors must allow the lease to be terminated without imposing any fees for early termination, although they can charge for excess wear, use, or mileage as specified in the lease agreement. Additionally, the bill prohibits leases from requiring the decedent's surviving spouse, family member, guardian, or estate administrator to purchase the vehicle, buy out the lease, or continue leasing under the original terms. To facilitate the termination, the surviving parties must provide a death certificate or satisfactory proof of death within 60 days.

Furthermore, the bill requires dealers and lessors to include written disclosure in lease contracts or financing agreements regarding the option for early termination due to the lessee's death. A violation of this disclosure requirement would result in a $500 penalty, enforceable through civil action. The provisions of this bill will take effect immediately for leases signed after its enactment, while the disclosure requirement will take effect two months later.