Revision: Jan. 21, 2010, midnight
SB 44 – AS AMENDED BY THE SENATE
02/03/05 0078s
2005 SESSION
06/04
SENATE BILL 44
AN ACT establishing a study committee on student credit card debt and regulation of credit card solicitation on college campuses.
COMMITTEE: Banks and Insurance
This bill establishes a study committee on student credit card debt and regulation of credit card solicitation on college campuses.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
02/03/05 0078s
05-0910
06/04
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Five
AN ACT establishing a study committee on student credit card debt and regulation of credit card solicitation on college campuses.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Committee Established. There is established a committee to study the impact of accumulated credit card debt on college students and recent college graduates to determine if there should be oversight or regulation of credit card solicitation practices on college campuses.
2 Membership and Compensation.
I. The members of the committee shall be as follows:
(a) One member of the senate, appointed by the president of the senate.
(b) Three members of the house of representatives, appointed by the speaker of the house of representatives.
II. Members of the committee shall receive mileage at the legislative rate when attending to the duties of the committee.
3 Duties.
I. The committee shall study the impact of accumulated credit card debt on college students and recent college graduates to determine if oversight or regulation of credit card solicitation practices on college campuses is recommended. The committee’s study shall include, but not be limited to:
(a) Credit card marketing practices, such as the use of promotional incentives.
(b) Parental liability for credit card debt.
(c) Reduced or special interest rates for students.
(d) The effects of consumer finance education.
II. The committee shall solicit input from representatives of the university system of New Hampshire; representatives of community-technical and private colleges within the state, including financial aid officers, students, and parents of students; the public higher education study committee; relevant industry trade groups including the New England Financial Services Association and the New Hampshire Bankers Association; and the New Hampshire Jumpstart Coalition.
4 Chairperson. The members of the study committee shall elect a chairperson from among the members. The first meeting of the committee shall be called by the first-named senate member. The first meeting of the committee shall be held within 45 days of the effective date of this section. 5 Report. The committee shall report its findings and any recommendations for proposed legislation to the senate president, the speaker of the house of representatives, the senate clerk, the house clerk, the governor, and the state library on or before November 1, 2005.
6 Effective Date. This act shall take effect upon its passage.