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Amend CSSB 1247 (Senate committee printing) by adding the following appropriately numbered SECTIONS to the bill and renumbering subsequent SECTIONS accordingly:
SECTION ___. Subchapter M, Chapter 342, Finance Code, is amended by adding Section 342.607 to read as follows:
Sec. 342.607. DEFERRED PRESENTMENT TRANSACTION DATA COLLECTION SYSTEM. (a) In this section, "credit access business" has the meaning assigned by Section 393.001(2-a).
(b) The commissioner shall establish and implement a database for the compilation of information relating to deferred presentment transactions that allows the commissioner or persons who offer, service, or broker the transactions, including a credit access business, to determine:
(1) whether an individual seeking to enter into a deferred presentment transaction with the person has any outstanding deferred presentment transactions entered into with other persons;
(2) the total number of outstanding deferred presentment transactions entered into by the individual described by Subdivision (1) with other persons; and
(3) whether the person is in compliance with this section and other provisions of law governing deferred presentment transactions.
(c) The commissioner shall contract with a third-party vendor to operate the database required by this section. In selecting the vendor, the commissioner shall:
(1) consider the vendor's ability to meet the requirements of this section;
(2) consider the cost of the vendor's services;
(3) give strong consideration to the vendor's ability to prevent fraud, abuse, and other unlawful activity associated with deferred presentment transactions;
(4) give strong consideration to whether the vendor operates a similar database in another state; and
(5) give strong consideration to whether the vendor's operation of the database would facilitate the enforcement of laws governing deferred presentment transactions and the persons who offer, service, or broker those transactions.
(d) The commissioner shall ensure that:
(1) the third-party vendor operating the database operates the database in accordance with this section and rules adopted by the finance commission under this section; and
(2) the database established under this section:
(A) allows persons required to submit information to the database to submit and access the required information from any location in this state;
(B) provides real-time access by the commissioner to information contained in the database from any location in this state; and
(C) contains safeguards to ensure that information contained in the database may not be accessed by an unauthorized person.
(e) A person who offers, services, or brokers a deferred presentment transaction, including a credit access business, shall submit to the database at the time the transaction is entered into data relating to the transaction that the commissioner, by rule of the finance commission, determines necessary.
(f) Information in the database is confidential and is not subject to disclosure under Chapter 552, Government Code.
(g) The finance commission shall adopt rules as necessary to implement this section, including rules:
(1) relating to the form and content of information to be submitted to the database;
(2) prescribing a fee to be paid by persons required to submit information to be included in the database under Subsection (e); and
(3) establishing requirements for the retention, archiving, and deletion of information entered into or stored in the database.
(h) The third-party vendor shall charge a person who offers, services, or brokers a deferred presentment transaction a fee to access or use the database under this section. The fee may be charged on a per-transaction basis and may be used only to pay the costs associated with the maintenance of the database under this section. The finance commission by rule must approve the amount of the fee, which may not exceed $1 per deferred presentment transaction.
(i) A person who ceases to offer, service, or broker deferred presentment transactions shall continue to submit information required by this section for any transactions that are outstanding and with respect to which the person continues collection efforts. Not later than the 10th day after the date the person ceases to offer deferred presentment transactions, the person shall submit to the commissioner for approval a plan for continuing compliance with this section. The commissioner shall promptly approve or disapprove the plan. The commissioner may require a person to whom this subsection applies to submit a new or modified plan.
SECTION ___. The consumer credit commissioner shall establish and implement the database under Section 342.607, Finance Code, as added by this Act, not later than January 1, 2014, and shall prescribe the date by which a person who offers, services, or brokers a deferred presentment transaction must begin submitting data as provided by that section.