FIFTY-FOURTH LEGISLATURE

FIRST SESSION, 2019

February 21, 2019

Mr. Speaker:

    Your CONSUMER & PUBLIC AFFAIRS COMMITTEE, to whom has been referred

HOUSE BILL 523

has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:

1. On page 1, line 14, after "WITHDRAWALS", insert "; PROVIDING A DEFINITION".

     2. On page 1, line 20, before "It", insert the subsection designation "A.".

     3. On page 1, line 22, strike "of its" and insert in lieu thereof "electronically of each".

     4. On page 1, line 25, after the period, insert "The provisions of this section shall not apply to a federally insured depository institution.".

     5. On page 1, line 25, strike the closing quotation mark.

     6. On page 1, after line 25, insert the following new subsection:

          "B. For purposes of this section, "automatic payment agreement" means an agreement between a creditor and a consumer that authorizes the creditor to periodically withdraw money from a credit card or a checking or savings account to pay a bill."".

and thence referred to the JUDICIARY COMMITTEE.