TITLE: Relating to certain information reported by consumer reporting agencies.

SUMMARY: Relating to certain information reported by consumer reporting agencies.

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