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CORRECTED MINUTES OF THE HOUSE BUSINESS AND LABOR
STANDING COMMITTEE
Room 450, State Capitol

February 15, 2012

Members Present:    Rep. Jim Dunnigan, Chair
            Rep. Dixon Pitcher, Vice Chair
            Rep. Jim Bird                            
            Rep. Derek Brown
            Rep. Brian Doughty
            Rep. Susan Duckworth                        
            Rep. Gage Froerer             
            
Rep. Don Ipson             
            
Rep. Todd Kiser
            Rep. Brad Last
            Rep. Michael Morley            
            Rep. Curt Webb
            
Rep. Larry Wiley
            Rep. Brad Wilson
             
Staff Present:    Mr. Bryant Howe, Assistant Director            
            Ms. Rosemary Young, Committee Secretary

Note:        List of visitors and a copy of handouts are filed with committee minutes .

Chair Dunnigan called the meeting to order at 8:09 a.m.

MOTION:    Rep. Kiser moved to approve the minutes of the February 13, 2012 meeting. The motion passed unanimously with Rep. Brown, Rep. Duckworth, Rep. Last, Rep. Morley, and Rep. Wiley absent for the vote.

H.B. 272    Pilot Program for Coverage for Autism Spectrum Disorders (Rep. R. Menlove)

MOTION:    
Rep. Kiser moved to return H.B. 272 to Rules Committee. The motion passed unanimously with Rep. Brown, Rep. Morley, and Rep. Wiley absent for the vote.

Chair Dunnigan relinquished the chair to Vice Chair Pitcher.

H.B. 459    Amendments to Deferred Deposit Lending (Rep. J. Dunnigan)

MOTION:    
Rep. Dunnigan moved to replace H.B. 459 with 1st Substitute H.B. 459. The motion passed unanimously with Rep. Brown and Rep. Wiley absent for the vote.


Rep. Dunnigan explained the bill to the committee assisted by Frank Pignanelli, Utah Consumer Lending, and Paul Allred, Department of Financial Institutions.

Spoke against the bill:    Dr. Allen Young, citizen

MOTION:    Rep. Dunnigan moved to amend 1st Substitute H.B. 459 as follows:


1.    Page 5, Lines 119 through 130 :    

             119          [(v)] (iv) the total number of deferred deposit loans rescinded by the deferred deposit
             120      lender at the request of the customer pursuant to Subsection 7-23-401 (3)(b);
             121          [(vi) the percentage of deferred deposit loans extended by the deferred deposit lender
             122      that are not paid in full by 10 weeks after the day on which the deferred deposit loan is
             123      executed; and]
             124          
{   [   }      {   (vii)   }        (v)       of the persons to whom the deferred deposit lender extended a deferred deposit

             125      loan, the percentage that entered into an extended payment plan under Section 7-23-403 .
{   ]   }

             126          
{   (v)   }        (vi)       the total dollar amount of deferred deposit loans rescinded by the deferred deposit

             127      lender at the request of the customer pursuant to Subsection 7-23-401 (3)(b);
             128          
{   (vi)   }        (vii)       the average annual percentage rate charged on deferred deposit loans; and

             129          
{   (vii)   }        (viii)       the total number of extended payment plans entered into under Section 7-23-403

             130      by the deferred deposit lender.
The motion passed unanimously.

MOTION:    
Rep. Last moved to transmit 1st Substitute H.B. 459 with a favorable recommendation. The motion passed with Rep. Doughty voting in opposition.

Chair Dunnigan resumed the chair.

H.B. 164    Trust Deed Foreclosure Changes (Rep. L. Christensen)

This bill was not heard .


H.B. 325    Motor Fuel Marketing Act Reauthorization (Rep. D. Ipson)

This bill was not heard.

H.B. 66    Deferred Deposit Lending Amendments (Rep. B. Daw)

MOTION:    
Rep. Bird moved to replace H.B. 66 with 2nd Substitute H.B. 66. The motion passed unanimously.

Rep. Daw explained the bill to the committee and invited Paul Allred, Department of Financial Institutions to speak to the bill.

Spoke for the bill:     Alan Blackham, citizen
             Judy Cox, citizen

Spoke against the bill: Kip Cashmore, USA Cash Services.

MOTION:    
Rep. Wilson moved to adjourn. The motion passed unanimously.

Rep. Dunnigan adjourned the meeting at 10:03 a.m.








                        ________________________________
                         Rep. James Dunnigan, Chair