By Giddings                                            H.B. No. 860
       74R2166 CLG-D
                                 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)  "Positive credit information" means information
    2-1  concerning a person's timely and sufficient payment under a
    2-2  contract for credit or other information relating to the person's
    2-3  performance under the contract that indicates the person is
    2-4  creditworthy and has good credit standing or capacity.
    2-5              (7)  "Used vehicle dealer" means a person in the
    2-6  business of the retail sale of light trucks, motorcycles, or
    2-7  passenger cars that have been the subject of a first sale in this
    2-8  state, another state, or another country.
    2-9        Sec. 2.  APPLICATION OF ARTICLE TO LEASES.  This article
   2-10  applies only to the following leases:
   2-11              (1)  a consumer lease for a term of 30 days or more; 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 POSITIVE CREDIT INFORMATION TO CREDIT
   2-15  REPORTING BUREAU.  A used vehicle dealer, a lessor engaged in the
   2-16  business of leasing a light truck, motorcycle, or passenger car to
   2-17  the public, or a lessor under a consumer lease, who as a creditor
   2-18  under a contract for credit or lessor under a lease furnishes
   2-19  credit information about an individual to a credit reporting
   2-20  bureau, shall furnish all positive credit information about the
   2-21  individual that:
   2-22              (1)  arises from the contract; and
   2-23              (2)  the used vehicle dealer or lessor is aware of.
   2-24        SECTION 2.  This Act takes effect September 1, 1995.
   2-25        SECTION 3.  The importance of this legislation and the
   2-26  crowded condition of the calendars in both houses create an
   2-27  emergency and an imperative public necessity that the
    3-1  constitutional rule requiring bills to be read on three several
    3-2  days in each house be suspended, and this rule is hereby suspended.