MD
Maryland House Bill HB262

Maryland 2024 Regular Session

Maryland House Bill HB262 Compare Versions

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1- WES MOORE, Governor Ch. 618
21
3-– 1 –
4-Chapter 618
5-(House Bill 262)
62
7-AN ACT concerning
3+EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
4+ [Brackets] indicate matter deleted from existing law.
5+ Underlining indicates amendments to bill.
6+ Strike out indicates matter stricken from the bill by amendment or deleted from the law by
7+amendment.
8+ *hb0262*
89
9-Consumer Protection – Consumer Reporting Agencies – Information in
10-Consumer Credit Reports
10+HOUSE BILL 262
11+I3, I2 4lr0444
12+ CF SB 41
13+By: Delegate Palakovich Carr
14+Introduced and read first time: January 12, 2024
15+Assigned to: Economic Matters
16+Committee Report: Favorable
17+House action: Adopted
18+Read second time: February 13, 2024
1119
12-FOR the purpose of altering the items of information that a consumer reporting agency is
13-prohibited from including in a consumer credit report; and generally relating to
14-consumer reporting agencies and consumer credit reports.
20+CHAPTER ______
1521
16-BY repealing and reenacting, with amendments,
17- Article – Commercial Law
18-Section 14–1203
19- Annotated Code of Maryland
20- (2013 Replacement Volume and 2023 Supplement)
22+AN ACT concerning 1
2123
22- SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND,
23-That the Laws of Maryland read as follows:
24+Consumer Protection – Consumer Reporting Agencies – Information in 2
25+Consumer Credit Reports 3
2426
25-Article – Commercial Law
27+FOR the purpose of altering the items of information that a consumer reporting agency is 4
28+prohibited from including in a consumer credit report; and generally relating to 5
29+consumer reporting agencies and consumer credit reports. 6
2630
27-14–1203.
31+BY repealing and reenacting, with amendments, 7
32+ Article – Commercial Law 8
33+Section 14–1203 9
34+ Annotated Code of Maryland 10
35+ (2013 Replacement Volume and 2023 Supplement) 11
2836
29- (a) Except as authorized under subsection (b) of this section, no consumer
30-reporting agency may make any consumer report containing any of the following items of
31-information:
37+ SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 12
38+That the Laws of Maryland read as follows: 13
3239
33- (1) Bankruptcies which, from date of adjudication of the most recent
34-bankruptcy, antedate the report by more than 10 years;
40+Article – Commercial Law 14
3541
36- (2) Suits and judgments which, from date of entry, antedate the report by
37-more than seven years or until the governing statute of limitations has expired, whichever
38-is the longer period;
42+14–1203. 15
3943
40- (3) Paid tax liens which, from date of payment, antedate the report by more
41-than seven years;
44+ (a) Except as authorized under subsection (b) of this section, no consumer 16
45+reporting agency may make any consumer report containing any of the following items of 17
46+information: 18
47+ 2 HOUSE BILL 262
4248
43- (4) Accounts placed for collection or charged to profit and loss which
44-antedate the report by more than seven years;
4549
46- (5) Records of arrest, indictment, or conviction of crime which, from date of
47-disposition, release, or parole, antedate the report by more than seven years; or
48- Ch. 618 2024 LAWS OF MARYLAND
50+ (1) Bankruptcies which, from date of adjudication of the most recent 1
51+bankruptcy, antedate the report by more than 10 years; 2
4952
50-– 2 –
51- (6) Any other adverse item of information which antedates the report by
52-more than seven years.
53+ (2) Suits and judgments which, from date of entry, antedate the report by 3
54+more than seven years or until the governing statute of limitations has expired, whichever 4
55+is the longer period; 5
5356
54- (b) The provisions of subsection (a) of this section are not applicable in the case of
55-any consumer credit report to be used in connection with:
57+ (3) Paid tax liens which, from date of payment, antedate the report by more 6
58+than seven years; 7
5659
57- (1) A credit transaction involving, or which may reasonably be expected to
58-involve, a principal amount of [$50,000] $150,000 or more;
60+ (4) Accounts placed for collection or charged to profit and loss which 8
61+antedate the report by more than seven years; 9
5962
60- (2) The underwriting of life insurance involving, or which may reasonably
61-be expected to involve, a face amount of [$50,000] $150,000 or more; or
63+ (5) Records of arrest, indictment, or conviction of crime which, from date of 10
64+disposition, release, or parole, antedate the report by more than seven years; or 11
6265
63- (3) The employment of any individual at an annual salary which equals, or
64-which may reasonably be expected to equal, [$20,000] $75,000 or more.
66+ (6) Any other adverse item of information which antedates the report by 12
67+more than seven years. 13
6568
66- SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
67-October 1, 2024.
69+ (b) The provisions of subsection (a) of this section are not applicable in the case of 14
70+any consumer credit report to be used in connection with: 15
6871
69-Approved by the Governor, May 9, 2024.
72+ (1) A credit transaction involving, or which may reasonably be expected to 16
73+involve, a principal amount of [$50,000] $150,000 or more; 17
74+
75+ (2) The underwriting of life insurance involving, or which may reasonably 18
76+be expected to involve, a face amount of [$50,000] $150,000 or more; or 19
77+
78+ (3) The employment of any individual at an annual salary which equals, or 20
79+which may reasonably be expected to equal, [$20,000] $75,000 or more. 21
80+
81+ SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect 22
82+October 1, 2024. 23
83+
84+
85+
86+Approved:
87+________________________________________________________________________________
88+ Governor.
89+________________________________________________________________________________
90+ Speaker of the House of Delegates.
91+________________________________________________________________________________
92+ President of the Senate.