[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5507 Introduced in House (IH)]







107th CONGRESS
  2d Session
                                H. R. 5507

  To amend the Truth in Lending Act to adjust the exempt transactions 
                         amount for inflation.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            October 1, 2002

 Mr. LaFalce introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
  To amend the Truth in Lending Act to adjust the exempt transactions 
                         amount for inflation.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Truth in Lending Inflation 
Adjustment Act''.

SEC. 2. AMOUNTS OF EXEMPT TRANSACTIONS ADJUSTED FOR INFLATION.

    (a) Credit Transactions Other Than Mortgages.--Section 104(3) of 
the Truth in Lending Act (15 U.S.C. 1603(4)) is amended by striking 
``$25,000'' and inserting ``$75,000''.
    (b) Consumer Leases.--Section 181(1) of the Truth in Lending Act 
(15 U.S.C. 1667(1)) is amended by striking ``$25,000'' and inserting 
``$75,000''.
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