74R8582 E
          By Giddings                                            H.B. No. 860
          Substitute the following for H.B. No. 860:
          By Giddings                                        C.S.H.B. No. 860
                                 A BILL TO BE ENTITLED
    1-1                                AN ACT
    1-2  relating to the furnishing of certain credit information by certain
    1-3  lessors and used vehicle dealers.
    1-4        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-5        SECTION 1.  Chapter 20, Title 132, Revised Statutes, is
    1-6  amended by adding Article 9017 to read as follows:
    1-7        Art. 9017.  REPORTING CREDIT INFORMATION TO CREDIT REPORTING
    1-8  BUREAU
    1-9        Sec. 1.  DEFINITIONS.  In this article:
   1-10              (1)  "Consumer lease" has the meaning assigned by
   1-11  Section 2A.103, Business & Commerce Code.
   1-12              (2)  "Credit reporting bureau" means a person or
   1-13  organization engaged in the practice of assembling or reporting
   1-14  credit information on individuals for the purpose of furnishing
   1-15  that information to third parties.
   1-16              (3)  "First sale" has the meaning assigned by Section
   1-17  7, Certificate of Title Act (Article 6687-1, Vernon's Texas Civil
   1-18  Statutes).
   1-19              (4)  "Light truck," "motorcycle," and "passenger car"
   1-20  have the meanings assigned by Section 2, Uniform Act Regulating
   1-21  Traffic on Highways (Article 6701d, Vernon's Texas Civil Statutes).
   1-22              (5)  "Person" means an individual, association, or
   1-23  corporation.
   1-24              (6)  "Credit information" means information concerning
    2-1  a person's timely and sufficient payment history under a contract
    2-2  for credit or other information relating to the person's
    2-3  performance under the contract.
    2-4              (7)  "Used vehicle dealer" means a person in the
    2-5  business of the retail sale of light trucks, motorcycles, or
    2-6  passenger cars that have been the subject of a first sale in this
    2-7  state, another state, or another country.
    2-8        Sec. 2.  APPLICATION OF ARTICLE TO LEASES.  This article
    2-9  applies only to the following leases:
   2-10              (1)  a consumer lease for a term of seven days or more;
   2-11  or
   2-12              (2)  a lease of a light truck, motorcycle, or passenger
   2-13  car for a term of 180 days or more.
   2-14        Sec. 3.  REPORT OF CREDIT INFORMATION TO CREDIT REPORTING
   2-15  BUREAU.  A used vehicle dealer, a lessor engaged in the business of
   2-16  leasing a light truck, motorcycle, or passenger car to the public,
   2-17  or a lessor under a consumer lease, who as a creditor under a
   2-18  contract for credit or lessor under a lease furnishes to a credit
   2-19  reporting bureau any credit information about any individual who
   2-20  contracts with the used vehicle dealer or lessor, shall furnish to
   2-21  the bureau all credit information about all individuals who
   2-22  contract with the used vehicle dealer or lessor that arises from
   2-23  the contracts.
   2-24        Sec. 4.  REINVESTIGATION OF DISPUTED INFORMATION.  Any person
   2-25  reporting credit information under this article shall:
   2-26              (1)  designate one or more persons to receive and
   2-27  process requests from the credit reporting bureau regarding the
    3-1  reverification of information; and
    3-2              (2)  respond to requests made by the credit reporting
    3-3  bureau in a timely manner.
    3-4        SECTION 2.  This Act takes effect September 1, 1995.
    3-5        SECTION 3.  The importance of this legislation and the
    3-6  crowded condition of the calendars in both houses create an
    3-7  emergency and an imperative public necessity that the
    3-8  constitutional rule requiring bills to be read on three several
    3-9  days in each house be suspended, and this rule is hereby suspended.