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

"I've said I want this Congress to be known as the pro-jobs, pro-growth Congress and this bill [The Consumer Rental Purchase Agreement Act] is part of this agenda."
Senator Jim Talent (R-MO)

Jim Talent, freshman Republican Senator from Missouri, is the latest supporter of federal Rent to Own legislation. Senator talent has signed on as the 9th cosponsor of S884; the Senate version of the Consumer Rental Purchase Agreement Act.

Jim Talent

Forward an email to Senator talent Here

Senator Talent told RTO Online, "We need to create jobs and economic growth in Missouri and around the country. The rent-to-own industry employs about 1,400 people in Missouri and there are about 300 rent-to-own businesses in our state.  This legislation will help these businesses expand so they can hire more people and produce economic growth in our local communities.  Moreover, it will increase protections for both customers and businesses in Missouri."

Before being elected to the Senate, Talent served in the U.S. Congress for eight years, part of that time as Assistant Majority Leader under Congressman Dick Armey (R-Texas).

In 1997, he was named Chairman of the Small Business Committee, becoming the youngest Chairman in Congress. In that capacity he fought successfully for tax and regulatory relief for small business people across America..

The Senator added, "I've said I want this Congress to be known as the pro-jobs, pro-growth Congress and this bill [The Consumer Rental Purchase Agreement Act] is part of this agenda."

The support of Senator Talent, as well as Zell Miller (D-GA) brings the cosponsor count to 9; 5 Democrat and 4 Republican.

S2947, (107th congress) had only 8 cosponsors by the end of September. Exceeding that number this early in the session bodes well for the bills future.

The Senate is seen as one of two key battlegrounds in this latest attempt at bringing federal regulation to the rental purchase industry. The other is an attempt to gain the support of key State Attorneys General.

In previous sessions, democrats touted an outdated letter expressing unanimous opposition of Attorneys General to any federal law that would preempt states ability to regulate a rent to own transaction as a credit sale.

The National Association of Attorneys General (NAAG) penned a letter in September 2001 stating their support of a 'federal floor' for disclosures but emphasized the unanimous opposition to preemption of state law. (Read the letter here)

NAAG's position has softened since then. According to Angelita Plemmer, Director of Communications for NAAG "The letter has not been revised and no one has shown any interest at this point in resurrecting it."

The preemptive language referred to in NAAG's 2001 letter remains essentially unchanged. But with many of the original signors out of office, and the rest, at least at this point, not actively opposing S884, Democrats may find their biggest gun unloaded.

Below is a complete list of Senate Co Sponsors

• Bunning, Jim - (R - KY)
• Hutchison, Kay - (R - TX)
• Johnson, Tim - (D - SD)
• Lincoln, Blanche - (D - AR)
• Nelson, Ben - (D - NE)
• Reid, Harry - (D - NV)
• Shelby, Richard - (R - AL)
• Miller, Zell - (D - GA)
• Talent, James - (R - MO)

The following Senators sponsored previous rent to own legislation, but have yet to sign-on to S884.

• Sen. John Breaux (D-LA)
• Sen. Kent Conrad (D-ND)

S884 has been referred to the Senate committee on Banking, Housing, and Urban Affairs, chaired by co-sponsor Richard Shelby (R-AL). No hearings have been scheduled.

The Banking, Housing, and Urban Affairs committee is made up of 11 Republicans and 10 Democrats. Ex-Chairman, and current ranking member, Paul Sarbanes threatened to torpedo RTO legislation during the 107th congress (see Sarbanes to Block RTO Legislation).