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            A. A motor vehicle lessor, in a rental agreement, may list mandatory charges separately, including but not limited to vehicle license recovery fees, airport access fees, airport concession fees, and all applicable taxes.

            B. If a motor vehicle lessor includes a vehicle license recovery fee as a separate charge in a rental agreement, the amount of the fee shall represent the motor vehicle lessor’s good-faith estimate of the lessor’s average per vehicle portion of the lessor’s total annual titling and registration costs incurred pursuant to the provisions of La. Rev. Stat. 47:451 et seq.

            C. If the total amount of the vehicle license recovery fees collected by a motor vehicle lessor pursuant to this Section in any one calendar year exceeds the lessor’s actual costs to license, title, and register the motor vehicles for that year, the lessor shall do the following:

            (1) Retain the excess amount collected.

            (2) Adjust the estimated average per vehicle titling and registration charge for the following calendar year by a corresponding amount.

            D. As used in this Section, the following terms have the following meanings:

            (1) “Motor vehicle” means that term as defined in La. Rev. Stat. 32:1252.

            (2) “Motor vehicle lessor” means that term as defined in La. Rev. Stat. 32:1252 and subject to the licensing provisions of La. Rev. Stat. 32:1254(A).

            (3) “Vehicle license recovery fee” means a charge that is included in a vehicle rental transaction to recover costs incurred by a motor vehicle lessor to license, title, and register rental vehicles.

            Acts 2016, No. 61, §1.