2009 - 2010 LEGISLATURE
ASSEMBLY AMENDMENT 5,
TO ASSEMBLY SUBSTITUTE AMENDMENT 1,
TO 2009 ASSEMBLY BILL 447
February 16, 2010 - Offered by Representatives Gottlieb, Newcomer and
Huebsch.
AB447-ASA1-AA5,1,11 At the locations indicated, amend the substitute amendment as follows:
AB447-ASA1-AA5,1,3 21. Page 1, line 3: delete "requiring reporting of certain loans to credit
3reporting".
AB447-ASA1-AA5,1,4 42. Page 1, line 4: delete that line.
AB447-ASA1-AA5,1,5 53. Page 1, line 5: delete "motor vehicle title loans,".
AB447-ASA1-AA5,1,6 64. Page 1, line 6: delete "making an appropriation,".
AB447-ASA1-AA5,1,8 75. Page 4, line 1: delete the material beginning with that line and ending with
8page 5, line 2.
AB447-ASA1-AA5,1,9 96. Page 5, line 6: delete lines 6 to 13.
AB447-ASA1-AA5,1,10 107. Page 7, line 11: delete "(g)" and substitute "(gg) and (gr)".
AB447-ASA1-AA5,1,11 118. Page 7, line 15: after that line insert:
AB447-ASA1-AA5,2,7
1"(2m) Applications; social security benefits recipients. A payday loan
2provider shall require an applicant to disclose whether the applicant is the recipient
3of benefits under Title II or Title XVI of the federal Social Security Act for whom a
4representative payee has been appointed and, if a representative payee has been
5appointed, the identity of the representative payee. If an applicant discloses the
6identity of a representative payee, the payday loan provider shall notify the
7representative payee in writing that the applicant has applied for a payday loan.".
AB447-ASA1-AA5,2,9 89. Page 7, line 17: delete lines 17 and 18 and substitute "that exceeds, in
9principal amount and interest, $900.".
AB447-ASA1-AA5,2,10 1010. Page 7, line 19: delete lines 19 to 25.
AB447-ASA1-AA5,2,11 1111. Page 8, line 3: delete "par. (g)" and substitute "pars. (gg) and (gr)".
AB447-ASA1-AA5,2,12 1212. Page 8, line 9: delete lines 9 to 16 and substitute:
AB447-ASA1-AA5,2,16 13"(fm) A payday loan provider may not rollover a payday loan unless the
14customer enters into a new payday loan transaction with the payday loan provider,
15including issuing a new check or executing a new authorization to initiate an
16electronic fund transfer.
AB447-ASA1-AA5,2,2217 (gg) A payday loan provider may present a customer's check for payment no
18more than 2 times. The payday loan provider may make a 2nd presentment of the
19check only if at least 3 business days have elapsed since the first presentment and
20the payday loan provider has made a good faith effort to contact the customer since
21the first presentment. The only charge the payday loan provider may impose for
22dishonor of the customer's check is that specified in s. 422.202 (1) (d).
AB447-ASA1-AA5,3,723 (gr) For each customer authorization to initiate an electronic fund transfer
24from the customer's account, a payday loan provider may initiate an electronic fund

1transfer no more than 2 times. The payday loan provider may initiate an electronic
2fund transfer a 2nd time only if at least 3 business days have elapsed since the
3payday loan provider initiated an electronic fund transfer the first time and the
4payday loan provider has made a good faith effort to contact the customer since the
5payday loan provider initiated an electronic fund transfer the first time. The only
6charge the payday loan provider may impose if its instruction to execute an electronic
7fund transfer is denied is a charge equivalent to that specified in s. 422.202 (1) (d).".
AB447-ASA1-AA5,3,9 813. Page 11, line 18: delete the material beginning with that line and ending
9with page 13, line 25.
AB447-ASA1-AA5,3,10 1014. Page 14, line 2: delete that line and substitute "nor more than $1,000.".
AB447-ASA1-AA5,3,11 1115. Page 14, line 6: delete lines 6 to 15.
AB447-ASA1-AA5,3,12 1216. Page 14, line 20: delete "(8) (b) 7. and (e) and".
AB447-ASA1-AA5,3,13 1317. Page 14, line 24: delete "(8) (b) 7. and".
AB447-ASA1-AA5,3,14 1418. Page 14, line 25: delete "(e) and".
AB447-ASA1-AA5,3,15 1519. Page 15, line 12: delete lines 12 and 13.
AB447-ASA1-AA5,3,16 1620. Page 15, line 16: delete lines 16 and 17.
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