Kentucky legislation · 2026 Regular Session
Kentucky SB158: AN ACT relating to products that offer benefits in connection with personal property.
Status: Signed into law, April 3, 2026
Create new sections of KRS Chapter 367 to establish regulatory requirements for vehicle financial protection products; establish the purpose of the requirements; define terms; provide that vehicle financial protection products issued before, on, or after the effective date of the Act shall not be considered insurance; establish exemptions from the regulatory requirements; provide that amounts charged or financed for vehicle financial protection products are authorized charges to be stated separately and shall not be considered a finance charge or interest; prohibit conditioning the extension of credit, terms of a loan, or terms of a related vehicle sale or lease from being conditioned on the consumer's payment for a vehicle financial protection product; establish requirements for debt waivers; establish requirements for vehicle value protection agreements; amend KRS 190.100 and create a new section of Subtitle 4 of KRS Chapter 286 to require retail installment contracts and consumer loan companies to comply with the regulatory requirements for vehicle financial protection products; amend KRS 304.1-120 to conform; direct that the Act applies to vehicle financial protection products that become effective on or after January 1, 2027; EFFECTIVE January 1, 2027.
What the bill says
An act relating to vehicle financial protection products.
From the committee substitute text:
AN ACT relating to vehicle financial protection products. Be it enacted by the General Assembly of the Commonwealth of Kentucky: SECTION 1. A NEW SECTION OF KRS CHAPTER 367 IS CREATED TO READ AS FOLLOWS: The purpose of Sections 1 to 7 of this Act is to provide a framework within which vehicle financial protection and (2) May be offered within this state. SECTION 2. A NEW SECTION OF KRS CHAPTER 367 IS CREATED TO READ AS FOLLOWS: As used in Sections 1 to 7 of this Act: (1) "Borrower" means a debtor, or retail purchaser or lessee, under a finance agreement; (2) "Commercial" means a transaction under which a vehicle will be used primarily for business purposes; (3) "Consumer": (a) or 2. A borrower; and (b) Includes a contract holder; (4) "Contract holder" means a person who is the purchaser or holder of a vehicle value protection agreement; (5) "Creditor" means any of the (b) The lessor in a lease transaction; (c) Any retail seller of vehicles; and (d) The assignee of any person referenced in paragraph (a), (b), or (c) of this SB015830.100 - 1901 - XXXX 3/25/2026 10:43 AM House Committee Substitute UNOFFICIAL COPY 26 RS SB 158/HCS subsection to whom a credit obligation is payable; (6) "Debt waiver" means and (b) Excess wear and use waiver; …
Sponsors
- Jason Howell (R, SD-001) · primary sponsor
Latest actions
- : signed by Governor (Acts Ch. 16)
- : delivered to Governor
- : enrolled, signed by Speaker of the House
- : enrolled, signed by President of the Senate
- : passed 38-0
- : Senate concurred in Committee Substitute (1) and Committee Amendment (1-title)
- : posted for passage for concurrence in House Committee Substitute (1) and Committee Amendment (1-title)
- : taken from Rules
- : to Rules (S)
- : received in Senate
Votes
- Senate: FINAL PASSAGE OF SB 158 w/ HCS 1, HCA 1 (T) (HCS 1) RSN# 3985 (March 25, 2026): 38 yea, 0 nay, passed
- House: Pass RCS# 313 (March 24, 2026): 92 yea, 0 nay, passed
- Senate: PASS SB 158 RSN# 3816 (February 12, 2026): 37 yea, 0 nay, passed
Subjects: Consumer Protection, Loans, Credit, Interest, And Usury, Transportation, Effective Dates, Delayed, Motor Vehicles, Insurance, Attorney General, Boats And Boating
Common questions
- What is SB158?
- SB158 is a bill in the Kentucky Legislature (2026 Regular Session): AN ACT relating to products that offer benefits in connection with personal property.
- What does SB158 do?
- In its own words: An act relating to vehicle financial protection products.
- What is the status of SB158?
- Signed into law as of April 3, 2026. Latest action: signed by Governor (Acts Ch. 16) (April 3, 2026).
- Who sponsored SB158?
- Jason Howell (R, SD-001).
- Where is the official record for SB158?
- On the Kentucky Legislature website: https://apps.legislature.ky.gov/record/26rs/sb158.html
Source: official Kentucky record. Tracked by Delilah, AI for legislation across all 50 states and Congress.