The bill amends Section 20.05(a) of the Business & Commerce Code to impose limitations on the information that consumer reporting agencies can include in consumer reports. Specifically, it prohibits the reporting of certain negative information that predates the report by specified timeframes. Notably, the bill removes the reference to "arrest, indictment, or" in relation to criminal records and introduces a new provision that allows for the reporting of records of arrest, charge, or indictment for alleged crimes that did not result in a conviction or deferred adjudication community supervision.

Additionally, the bill maintains existing limitations on reporting cases related to bankruptcy, judgments, tax liens, and other negative items, while also addressing medical collection accounts under specific circumstances. The changes aim to enhance consumer protections by limiting the duration and type of negative information that can affect an individual's credit report. The bill is set to take effect immediately upon receiving a two-thirds vote from both houses or on September 1, 2025, if such a vote is not achieved.

Statutes affected:
Introduced: Commerce Code 20.05 (Commerce Code 20)