Amendment ASA1-AB117

LRBs0162/1

ARG:klm

2015 - 2016 LEGISLATURE

ASSEMBLY SUBSTITUTE AMENDMENT 1, TO ASSEMBLY BILL 117

November 3, 2015 - Offered by Representative Hintz.

AB117-ASA1,1,2 An Act relating to: requiring the Department of Financial Institutions to create a committee relating to changes to the Wisconsin Consumer Act.

The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:

AB117-ASA1,1 Section 1. Nonstatutory provisions.

AB117-ASA1,2,3 (1) Consumer act committee. The secretary of financial institutions shall create a committee under section 15.04 (1) (c) of the statutes composed of representatives of consumer groups, representatives of the Wisconsin Creditors' Rights Association, and members of the legislature. The purpose of the committee shall be to find common ground relating to changes to chapter 425 of the statutes, pertaining to remedies, penalties, pleading requirements, and other enforcement provisions under the Wisconsin Consumer Act, that would balance the interests of consumers and creditors. Not later than the first day of the 12th month beginning after the effective date of this subsection, the committee shall report its findings, conclusions, and recommendations to the secretary of financial institutions, after which the committee shall terminate its activities and cease to exist.

AB117-ASA1,2,4 (End)