This bill amends RCW 19.118.110 to update the arbitration fee associated with the new motor vehicle arbitration account in Washington State. The fee collected from consumers upon the execution of a retail sale or lease agreement will increase from three dollars to six dollars. This fee is to be collected by either the new motor vehicle dealer or vehicle lessor and forwarded to the Department of Licensing for deposit into the newly established arbitration account. The funds in this account will be utilized for the purposes outlined in the chapter, subject to appropriation.

Additionally, the bill removes provisions that allowed the legislature to transfer moneys from the new motor vehicle arbitration account during the 1995-97 and 2017-2019 fiscal bienniums if those funds were deemed unnecessary for the chapter's purposes. The attorney general is tasked with preparing an annual report detailing the revenue generated and expenses incurred in relation to the arbitration program.

Statutes affected:
Original bill: 19.118.110