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Rep. Anthony DeLuca
Filed: 5/15/2014
| | 09800SB3397ham001 | | LRB098 18944 HLH 59616 a |
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| 1 | | AMENDMENT TO SENATE BILL 3397
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| 2 | | AMENDMENT NO. ______. Amend Senate Bill 3397 by replacing |
| 3 | | everything from line 21 on page 7 through line 14 on page 8 |
| 4 | | with the following:
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| 5 | | "(4) The retailer and lender shall maintain adequate books, |
| 6 | | records, or other documentation supporting the charge off of |
| 7 | | the accounts or receivables for which a deduction was taken or |
| 8 | | a refund was claimed under this Section. A retailer claiming a |
| 9 | | deduction or refund for bad debts from a private label credit |
| 10 | | card may not be allowed to meet a lesser standard of |
| 11 | | documentation than a retailer that claims a deduction or refund |
| 12 | | for bad debts that are not from a private label credit card. |
| 13 | | For purposes of computing the deduction or refund, payments on |
| 14 | | the accounts or receivables shall be prorated against the |
| 15 | | amounts outstanding on the account.".
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