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A BILL TO BE ENTITLED
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AN ACT
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relating to certain information reported by consumer reporting |
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agencies. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Sections 20.05(a) and (b), Business & Commerce |
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Code, are amended to read as follows: |
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(a) Except as provided by Subsection (b), a consumer |
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reporting agency may not furnish a consumer report containing |
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information related to: |
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(1) a case under Title 11 of the United States Code or |
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under the federal Bankruptcy Act in which the date of entry of the |
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order for relief or the date of adjudication predates the consumer |
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report by more than 10 years; |
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(2) a suit or judgment in which the date of entry |
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predates the consumer report by more than seven years or the |
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governing statute of limitations, whichever is longer; |
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(3) a tax lien in which the date of payment predates |
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the consumer report by more than seven years; |
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(4) a record of arrest, indictment, information, |
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misdemeanor complaint, or conviction of a crime in which the date of |
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disposition, release, or parole predates the consumer report by |
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more than seven years; or |
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(5) another item or event that predates the consumer |
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report by more than seven years. |
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(b) A consumer reporting agency may furnish a consumer |
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report that contains information described by Subsection (a) if the |
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information is provided in connection with: |
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(1) a credit transaction with a principal amount that |
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is or may reasonably be expected to be $150,000 or more; or |
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(2) the underwriting of life insurance for a face |
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amount that is or may reasonably be expected to be $150,000 or |
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more[; or
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[(3)
the employment of a consumer at an annual salary
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that is or may reasonably be expected to be $75,000 or more]. |
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SECTION 2. This Act takes effect September 1, 2015. |