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PUBLIC LAW 94-240 HOUSE OF REPRESENTATIVES BILL NO. 8835 OF 1976

AS SIGNED ON MARCH 23, 1976 AS CODIFIED IN 90 UNITED STATES STATUTES 257

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Section 1667 of Title 15 of the United States Code was amended in 1976 following congressional approval of House of Representatives Bill No. 8835 [hereinafter referred to as “H.R. 8835”], which amended the Truth in Lending Act by adding at the end a new chapter entitled “Chapter 5—Consumer Leases.” (See Exhibit A, #1)  This bill was introduced on July 23, 1975 by Representative Frank Annunzio.  (See Exhibit A, #3a) 

This bill was reviewed by the House Committee on Banking, Currency and Housing.  (See Exhibit A, #3a, #3b, and #7)  After the bill was reviewed and amended by the House, H.R. 8835 was then forwarded to the Senate Committee on Banking, Housing and Urban Affairs.  (See Exhibit A, #3c, #3d, and #8)  At this time, the Senate substantively amended the bill with language from its own bills on the subject of consumer leases, Senate Bill Nos. 1900 and 1961.  (See Exhibit C, #4, et seq.)  Understanding the legislative intent of any legislative measure necessarily includes knowledge about various other measures competing with or preceding the bill ultimately enacted, particularly where the focus is on specific language.  As you compare that enacted with the unsuccessful proposals in the failed bills, you may be able to discern useful insight as to the intended meaning.  (See generally, Exhibit C)

The House objected to the Senate amendments, which prompted the formation of a Conference Committee.  (See Exhibit A, #12b, page 444)  The purpose of a Conference Committee is to bring together legislators, called “conferees,” from the Senate and the House of Representatives in an attempt to reach a compromise on a bill’s language which is acceptable to both. The House and Senate conceded to different provisions of each one’s bill and adopted the conference report.  (See Exhibit A, #9 and #10)  An explanation in the Conference Reports by the House and the Senate as to the specific concessions in the language of the new Act was provided.  (See, for example, Exhibit A, #10, page 8)  Thereafter, the bill was presented to President Gerald Ford, who signed it into law on March 23, 1976, enacting Public Law 94-240.  (See Exhibit A, #1 and #11)

The House Conference Report on H.R. 8835 as last amended in conference described this bill as follows:

. . . to amend the Truth in Lending Act to protect consumers against inadequate and misleading leasing information, assure meaningful disclosure of lease terms, and limit ultimate liability in connection with leasing of personal property primarily for
personal, family, or household purposes, and for other purposes, . . .
(See Exhibit A, #9, page 1)