Factoids

Rent to Own Online Government Workshop new Rent to Own and Government New Side By Side Comparison of Any State Statute to the Proposed Federal Legislation Related articles most recent first 109th Congress Consumer Rental Purchase Agreement Act of 2005 Introduced In Senate Opposing Forces; Two Groups At Legislative Odds 108th Congress Session Ends Without Passage Of Rental Purchase Agreement Act; Last Minute Efforts Nearly Win The Day Senate Finance Committee Ranking Member Endorses Rental Purchase Agreement Act Rental Purchase Act Looses 5 Key Supporters Schrock And Clay Cosponsor Rental Purchase Agreement Act Text Of Landrieu Statement To The Senate Banking Committee Supporting The Consumer Rental Purchase Agreement Act "Even Congressmen Use Rent to Own"; Senator Mary Landrieu Opening Statement Audio Senate To Hear Testimony On Rental Purchase Agreement Act Today Virginia Senator Allen Endorses Rental Purchase Agreement Act; Hearing Scheduled For 22nd Washington Senator Patty Murray Cosponsors Rental Purchase Agreement Act; Senate Co-sponsor Count At 50% Shuster and Lampson Cosponsor Rental Purchase Agreement Act Senate Powerhouse Tom Daschle Cosponsors Rental Purchase Agreement Act; Senate Co-sponsor Count Nears 50% Six New Cosponsors For Rental Purchase Agreement Act North Dakota Democrat Senator Byron Dorgan Cosponsors S884; Senate Co-sponsor Count at 23 Missouri Republican Todd Akin Supports Rental Purchase Agreement Act Southern Democrats Co-sponsor Rental Purchase Agreement Act Rent to Own Industry Supporter Doug Bereuter Resigning House Seat For Private Sector Missouri Republican Senator Christopher Bond Cosponsors S884 Senate Co-sponsor Count at 22 Consumer Rental Purchase Agreement Act Co-Sponsor Rep. Tiberi Introduces "No Down Payment Act" Rent to Own Online Introduces New State Statute Application 20% of Lawmakers Co-Sponsor Consumer Rental Purchase Agreement Act Illinois Republican Becomes 82nd Representative to Co-sponsor HR996 11 Term Texas Democrat Becomes 81st Representative to Co-sponsor HR996 Oregon Republican Senator Gordon Smith Cosponsors S884 Senate Co-sponsor Count at 21 Six Term Democrat Tim Holden (PA) Becomes 80th Co-Sponsor of HR996 Senators Roberts and Craig Cosponsor S884 Industry Hits Goal of 20 Co-sponsors by Mid September Kansas Democrat Becomes 79th Co-Sponsor of HR996 Bayh and Baucus Bring Senate Cosponsor Count to 18 Oregon Republican Switches Sides and Becomes 78th Co-Sponsor of HR996 ; Total at 78 Iowa Republican Steve King Co-Sponsors HR996 ; Total at 77 North Dakota Democrat Kent Conrad Brings Senate Cosponsor Count to 16 Kansas Republican Sam Brownback Brings Senate Cosponsor Count to 15 2 More House Democrats Cosponsors HR996; Total at 76 11 New House Cosponsors HR996; Total at 74 Trent Lott (R-MS), Chuck Hagel (R-NE) Bring Senate Cosponsor Count to 14 update HR996 Sponsorship... What's The Real Number? HR996; Movement In House Unlikely Till Senate Gets Off Dime HR 996: Consumer Rental Purchase Agreement Act Thomas Carper (D-DE) Becomes 12th Senate Cosponsor of RTO Legislation Michael Crapo (R-ID) Becomes 11th Senate Cosponsor of RTO Legislation Avalanche of Co-Sponsors for Rent to Own Legislation During APRO Legislative Conference 32 More Stories on Rental Purchase Agreement Act The bill was first introduced by Representative Walter B. Jones of NC in May, 2001. Click here for Rep. Jones Home Page

update: See our update Here

9 more Representatives signed on as co-sponsors of HR996, the Consumer Rental Purchase Agreement Act, bringing the grand total to 59; 41 Republican and 18 Democrat (including main sponsor Rep. Walter Jones (R -NC)). House Support for the bill is strong, but sources tell RTO Online that, notwithstanding the high level of support, Key House leaders want to see significant movement in the Senate before moving forward.

The feeling among insiders is that "passage in the House is a virtual lock". Representatives who vocally opposed the bill in previous sessions are reluctant to make a fuss over legislation sure to pass...especially if they can make new friends. Instead, all eyes are on the Senate where the waters are untested.

The push for Senate support is in full swing. Most House and Senate Democrats opposing the bill, do so at the behest of consumer groups. Supporters would prefer, but are unlikely to get, consumer group support for the bill. Opposition to the RTO industry by Ralph Nader types is too entrenched.

There may also be movement on the Attorney General front. Supporters are seeking vocal support from a prominent southern AG to counteract the oppositions pre-emption argument.

There remains some concern among legislators concerning the preemption of state law. TRIM, a national conservative organization that issues report cards on all legislators based on voting records, listed a yes vote for HR1701 as negative based on the preemption issue. TRIM's position on HR996 is unknown, but it will likely remain negative since the language of the bill did not change. People outside the beltway are likely unfamiliar with TRIM, but in a town where 'report cards' get wide play, they carry some weight.

Supporters of the legislation minimize the impact of preemption. They claim that HR996 sets a "Federal Floor" and allows states to enact additional consumer protections. In a 'Talking Points' memo distributed in Washington DC, supporters state;

"HR996 does not pre-empt state legislatures from enacting additional consumer protections. Section 1018 of the bill, titled "Relation to other Laws", makes it clear that state legislatures are free to add regulations to the FLOOR of consumer protections included in this bill"

The memo goes on to compare the establishment of a federal definition of 'rental purchase' to the Truth in Lending Act and the Consumer Lease Act.

"Under these federal laws, Congress set a federal definition along with a floor of consumer protections, but allowed state legislatures to add regulations to those minimum standards, PROVIDED that the additional state regulations are consistent with the federal definitions"

Very few states will feel the pre-emption effect. States like New Jersey, Vermont, and Wisconsin, that regulate Rent to Own as a credit sale requiring EAPR or APR disclosures, will see the biggest impact should HR996 become law. Requiring EAPR disclosures would be "inconsistent" with the federal law and would be pre-empted. Other regulations by these states would remain unaffected.

Existing HR996 Co-sponsors

• Main Sponsor Rep. Walter Jones (R -NC)
  Co-Sponsors
• Darlene Hooley (D-OR)
• Mike Ross (D-AR)
• Rep Goode, Virgil H., Jr. (R-VA)
• Rep Davis, Jo Ann (R-VA)
• Rep Turner, Jim (D-TX)
• Rep Ney, Robert W. (R-OH)
• Rep Frost, Martin (D-TX)
• Rep Isakson, Johnny (R-GA)
• Rep McCrery, Jim  (R-LA)
• Rep Kelly, Sue W.  (R-NY)
• Rep Kanjorski, Paul E. (D-PA)
• Rep Terry, Lee  (R-NE)
• Rep Lucas, Ken  (D-KY)
• Rep Sessions, Pete  (R-TX)
• Rep Baker, Richard H.  (R-LA)
• Rep Sherman, Brad  (D-CA)
• Rep Spratt, John M., Jr.  (D-SC)
• Rep Gillmor, Paul (R-OH)
• Rep Royce, Edward (R-CA)
• Rep Sweeney, John (R-NY)
• Rep Tiberi, Patrick (R-OH )
• Rep Bartlett, Roscoe  (R-MD)
• Rep McHugh, John M. (R-NY)
• Rep Carson, Brad - (D-OK)
• Rep Emerson, Jo Ann (R-MO)
• Rep McIntyre, Mike (D-NC)
• Rep Alexander, Rodney (D-LA)
• Rep Bereuter, Doug (R-NE)
• Rep. John Linder (R-GA)
• Rep. Nathan Deal (R-GA)
• Rep. Tom Osborne (R-NE)
• Rep. Max Sandlin (D-TX)
• Rep. Henry Bonilla (R-TX)
• Rep. Zach Wamp (R-TN)
• Rep. David Vitter (R-LA)
• Rep. John Shimkus (R-IL)
• Rep. Cass Ballenger (R-NC) 
• Rep. Lincoln Diaz-Balart (R-FL)
• Rep. George Nethercutt (R-WA) 
• Rep. Kenny Hulshof (R-MO)
• Rep. Philip English (R-PA)
• Rep. Michael Burgess (R-TX)
• Rep. Jim Cooper (D-TN)
• Rep. Jim Leach (R-IA)
• Rep. Ralph Hall (D-TX)

The bill was introduced by Rep. Walter Jones (R -NC) on 2/27/03 and referred to the Subcommittee on Financial Institutions and Consumer Credit on 3/14/2003. A hearing has not yet been scheduled.