Amend CSHB 1595 by inserting a new section on page 24,
between lines 42-43, appropriately numbered, to read as follows and
renumbering subsequent sections accordingly:
      SECTION _____.  Article 7.02, Title 79, Revised Statutes
(Article 5069-7.02, Vernon's Texas Civil Statutes), is amended by
amending Article 7.02(9)(b) and adding Article 7.02(9)(c) to read
as follows:
      (b)  Section (9)(a) of this Article does not apply to:
            (i)  a lease;
            (ii)  a retail installment transaction for a vehicle to
be used primarily for purposes other than personal, family, or
household use;
            (iii)  a transaction for which the payment schedule is
adjusted to the seasonal or irregular income or scheduled payments
or obligations of the buyer; <or>
            (iv)  a transaction of a kind determined by the
Commissioner as not requiring the protection of the buyer provided
in Section (9)(a) of this Article; or<.>
            (v)  a retail installment transaction for the sale of a
new vehicle by a seller who is a franchised dealer licensed under
the Motor Vehicle Commission Code (Article 4413(36), Vernon's Texas
Civil Statutes), in which the buyer is entitled, at the end of the
term of the retail installment contract, to choose any one of the
following:
                  (A)  sell the vehicle back to the holder
according to a written agreement entered into between the buyer and
holder concurrently with or as a part of the transaction and under
which the buyer will be released from liability or obligation for
the final scheduled payment under the contract on compliance with
the agreement;
                  (B)  to pay the final scheduled payment under the
contract; or
                  (C)  if the buyer is not in default under the
contract, to refinance the final scheduled payment with the holder
for repayment in not less than 24 equal monthly installment
payments or on other terms agreed to by the buyer and holder at the
time of refinancing and at a rate of time price differential not to
exceed the lesser of:
                        (1)  a rate of time price differential
equivalent to the maximum rate authorized under Article 7.03 of
this Title; or
                        (2)  an annual percentage rate of five
percent per annum more than the annual percentage rate of the
original contract.
      (c)  A retail installment contract under Section (9)(b)(v)
shall contain a disclosure that the refinancing may also be for any
other period of time and payment schedule to which the buyer and
holder may mutually agree.