HSB 522 (LSB 5389DP (4) 83)

SENATE/HOUSE FILE _____

BY  (PROPOSED ATTORNEY GENERAL BILL)

A BILL FOR

An Act updating references to the federal Truth in Lending Act.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  Section 537.1302, Code 2009, is amended to read as follows:
   537.1302  Definition —— Truth in Lending Act.

   As used in this chapter, “Truth in Lending Act” means Title 1 of the Consumer Credit Protection Act, in subchapter 1 of 15 U.S.C. ch. 41, as amended to and including January 1, 2008 2010, and includes regulations issued pursuant to that Act prior to January 1, 2008 2010.
EXPLANATION
   This bill changes dates referenced in the definition of “Truth in Lending Act” contained in Code chapter 537, the consumer credit code, to conform to the January 1, 2010, amended version of that Act, and regulations issued pursuant to the Act prior to January 1, 2010. Currently, the definition contained in Code section 537.1302 references January 1, 2008. This change will update references to the Act throughout the consumer credit code, and in several other Code chapters where the Act is cited.