MVFA-FRANCHISE AGREEMENTS

Amends the Motor Vehicle Franchise Act. Expands the definition of the term "motor vehicle" to include any engine, transmission, or rear axle, regardless of whether it is attached to a vehicle chassis, that is manufactured for installation in any motor-driven vehicle with a gross vehicle weight rating of more than 16,000 pounds that is required to be registered under the Illinois Vehicle Code. Eliminates language providing that a manufacturer has good cause to cancel, terminate, or fail to extend or renew the franchise or selling agreement to all franchisees of a line make when the manufacturer permanently discontinues the manufacture or assembly of motor vehicles of such line make. Provides that it is a violation for a manufacturer to require or coerce a motor vehicle dealer to underutilize the motor vehicle dealer's facilities by requiring or coercing the motor vehicle dealer to cease operations for the selling or servicing of any vehicles that fall under a franchise agreement with another manufacturer. Provides an itemized list of what is considered reasonable compensation to a motor vehicle dealer for the value of the motor vehicle dealer's business and business premises, as well as a payment scheme for such compensation. Makes other changes. Effective immediately.