"Capitalized cost reduction" defined
Sec. 3. As used in this chapter, "capitalized cost reduction" means
a payment made by cash, check, credit card debit, net vehicle
trade-in, rebate, or other similar means in the nature of a down
payment or credit, made by a retail lessee at the inception of a lease
agreement, for the purpose of reducing the capitalized cost and does
not include any periodic payments received by the retail lessor at the
inception of the lease agreement.
As added by P.L.86-1996, SEC.8.
Last modified: May 27, 2006