Legislature(2003 - 2004)

04/03/2003 01:35 PM Senate L&C

Audio Topic
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
                   SB  64-CREDIT INFORMATION                                                                                
CHAIR CON  BUNDE called  the Senate  Labor and  Commerce Standing                                                             
Committee meeting  to order  at 1:35  p.m. Present  were SENATORS                                                               
SEEKINS,  DAVIS and  FRENCH. SENATOR  STEVENS was  excused. Chair                                                               
Bunde announced SB 64 to be up for consideration.                                                                               
SENATOR DAVIS moved to adopt Amendment 1.                                                                                       
CHAIR BUNDE objected for discussion purposes.                                                                                   
SENATOR FRENCH, sponsor  of SB 64, explained that  the purpose of                                                               
Amendment 1 is to clarify  where responsibility lay for spreading                                                               
the  word to  consumers about  this  bill should  it become  law.                                                               
Concern was expressed that the  responsibility would devolve upon                                                               
small businesses that offer credit,  but it shouldn't be a burden                                                               
on them. Typically, information like  this is posted on a state's                                                               
website under a consumer report section.                                                                                        
CHAIR BUNDE  asked if it would  be possible to put  this language                                                               
in the statute  itself. He noted, "Sometimes  intent makes pretty                                                               
thin soup."                                                                                                                     
SENATOR  FRENCH responded  that  conversely  some attorney  would                                                               
have to  get involved  to force a  small business  to disseminate                                                               
the information.  He said it  would certainly be  more cumbersome                                                               
to put the language in statute.                                                                                                 
SENATOR SEEKINS  said it is just  as easy to put  the language in                                                               
the bill as it  is to do a letter of intent  and that he wouldn't                                                               
vote for the bill unless the language was in it.                                                                                
SENATOR FRENCH said he would take a look at that.                                                                               
SENATOR  SEEKINS  added  that it's  very  clear  the  committee's                                                               
intent is to put the burden  solely on the people who collect the                                                               
SENATOR  DAVIS  moved  to  rescind  her  motion.  There  were  no                                                               
CHAIR  BUNDE  asked  Senator  French   if  he  knew  how  similar                                                               
legislation has impacted credit agencies  in other states and how                                                               
often consumers use it.                                                                                                         
SENATOR FRENCH  replied at least  one of the credit  agencies has                                                               
posted directions on  how to get a free credit  report on its own                                                               
website. He sensed that the  credit agencies are not resisting it                                                               
and are willing partners.                                                                                                       
CHAIR  BUNDE asked  if there  is any  evidence that  the cost  of                                                               
credit  reports has  increased in  the states  that have  enacted                                                               
similar legislation.                                                                                                            
SENATOR FRENCH replied not that he was aware of.                                                                                
CHAIR BUNDE stated the committee  would hold this bill until next                                                               
                   SB  64-CREDIT INFORMATION                                                                                
SENATOR  SEEKINS  moved  to  pass   SB  64  from  committee  with                                                               
individual recommendations.                                                                                                     
The roll  was called.  SENATOR DAVIS,  SEEKINS, FRENCH  and BUNDE                                                               
voted yea; and SB 64 passed from committee.                                                                                     

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