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 more than specified timeframes. The amendments include the removal of references to "arrest, indictment, or" in relation to criminal records, while introducing new provisions that prevent 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 bankruptcy cases, suits or judgments, tax liens, and other negative items, while also addressing collection accounts related to medical services under specific conditions. The act is set to take effect immediately upon receiving a two-thirds vote from both houses of the legislature, or on September 1, 2025, if such a vote is not achieved.

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