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.