Press Release

State Rep. Woody Burton authored legislation regarding financial institutions and consumer credit, which passed the Indiana House of Representatives on Tuesday with a unanimous vote.

House Bill (HB) 1081 makes a variety of changes to current law concerning financial institutions: lien mortgage lenders, payday lenders, debt management companies, pawnbrokers, money transmitters and funeral trusts. This is known as an “omnibus bill” for the Indiana Department of Financial Institutions (DFI) because it deals with a number of diverse, unrelated topics.

“Many of the provisions and changes within this bill are made simply to conform to federal law and regulations,” said Rep. Burton. “These technical changes will be highly beneficial to the Indiana Department of Financial Institutions as they are in charge of supervising commercial banks, trust companies, private and savings banks, building and loan associations, credit unions and finance companies.”

This bill also includes language necessary to bring uniformity among the various licensing acts administered by the DFI. One highlight of this legislation is the provisions to update the Debt Management Act for companies that help Hoosiers manage their debts and finances. In regards to rental purchase agreements, the bill requires notification to the DFI of name or address changes, openings, closings or relocations of offices or stores, bankruptcies or reorganizations, or revocations or suspensions in other jurisdictions. Before appointing or hiring any director, executive director, executive officer or Indiana store manager, a lessor must also perform a background check on the candidate and retain records of the check until the department’s next examination.

“For the protection of all Hoosiers, it is important that we know candidates are qualified and clear of any criminal history in dealing with sensitive financial information,” said Rep. Burton.

Among their many responsibilities, the DFI also supervises pawnbrokers. This bill extends the application of the Pawnbrokers Act to transactions originated outside of Indiana given that the consumer is in Indiana when the transaction is originated. The pawnbroker must also have advertised or solicited the transaction by way of mail, brochure, telephone, print, radio, television, the Internet or electronic means.

In addition, the bill adds a provision that prohibits the use of misleading terms indicating that a business is a pawnbroker business when no license has been issued. For example, some businesses have advertised on the outside of their store with names such as NWAP, which is simply PAWN spelled backwards.

HB 1081 will move to the Senate for further discussion and debate. To stay up-to-date on this bill and any other piece of legislation in the General Assembly, visit www.in.gov/legislative.

State Representative Woody Burton authored legislation regarding vehicle registration, which passed the Indiana House of Representatives on Tuesday with a 91 to 5 vote. The bill is coauthored by State Representative Eric Koch (R-Bedford).

“I have spoken with many constituents who were unaware that they were violating the law by not signing their vehicle registration,” said Rep. Burton. “We worked with the Bureau of Motor Vehicles on this piece of legislation to remove this unnecessary penalty on Hoosier drivers.”

House Bill (HB) 1082 removes the requirement that the person whose name appears on the vehicle registration must sign it. As the result of the bill, individuals who fail to sign their vehicle registration will no longer be subject to a Class C infraction.

“The signature is unnecessary, and the signature line is on the back of the form,” said Rep. Koch. “This is a common sense change to Indiana law, which currently penalizes drivers for committing an infraction they don’t know exists.”

HB 1082 will be sponsored in the Senate by Sen. Tom Wyss (R-Fort Wayne) and Sen. Rodric Bray (R-Martinsville) for further discussion and debate. To stay up-to-date on this bill and any other piece of legislation in the General Assembly, visit www.in.gov/legislative.

Two pieces of legislation that State Rep. Woody Burton authored were passed out of the Indiana House of Representatives on Wednesday.

House Bill (HB) 1079, authored by Rep. Burton, creates a 20 year expiration date (instead of 10 years under current law) for mortgages or liens that were created before July 1, 2012 and do not show the due date of the last installment.

“Lenders had to unnecessarily review their loan files to figure out if their mortgages had the proper language. If the language wasn’t right, they had to file affidavits. This was done to protect the lien that was in existence. As a result, unnecessary costs were incurred to protect the existing liens,” said Rep. Burton.

HB 1079 passed the House with a 94-0 vote.

HB 1148, coauthored by Rep. Burton, changes the definition of normal retirement age in the public employees’ defined contribution plan. This reduces the minimum number of years required for participation in the plan from 10 to five years.

“HB 1148 was created from discussion we had this summer in the Pension Management Oversight Commission,” said Rep. Burton. “This bill will continue to allow us to practice the fiscal management needed to ensure a sound future for all Hoosiers.”

The bill also requires that a vested plan member, one with absolute right to the entire amount of money in the account, must be separated from employment for a minimum of 30 days before they can make a withdrawal.

HB 1148 passed the House with a 80-14 vote.

Both pieces of legislation will move to the Senate for further discussion and debate. To stay up-to-date on these bills and any other piece of legislation in the General Assembly, visit www.in.gov/legislative.

State Reps. Woody Burton and John Price met with representatives from the Johnson County Purdue Extension at the Statehouse on Tuesday.

Purdue Extension offers a variety of programs to Hoosiers in the areas of agriculture and natural resources, health and human sciences, economic and community development, as well as 4-H and youth development. Their specialists work in all 92 counties, yielding practical solutions to local problems and providing the link between Land Grant research and Indiana citizens. According to their Web site, Purdue Extension is one of the nation’s largest providers of scientific research-based information and education.

Purdue Extension youth educators help young Hoosiers develop talents, life skills and leadership abilities through 4-H clubs and county fairs, and also through school enrichment and community programs. Their Captain Cash program teaches third graders concepts about earning, saving, spending and borrowing money.

“The Johnson County Purdue Extension provides a unique opportunity to learn the real life skills that are not always taught in schools,” said Rep. Burton. “I appreciate their efforts in educating Indiana’s future leaders.”

Purdue Extension representatives shared their annual report with Rep. Burton and Rep. Price and spoke about their upcoming initiatives. They emphasized that with an increased number of jobs coming to Indiana, it is imperative that we have a skilled labor force ready to fill these jobs. They thanked both State Rep. Burton and State Rep. Price for their continued support and look forward to continuing their partnership.

“It is always great meeting with innovative groups such as Purdue Extension,” said Rep. Price. “Their efforts in education and research are the foundation of job creation for Hoosiers across the state.”

For more information about Purdue Extension programs in Johnson County, please visit: www.purdue.edu/makingadifference.

State Rep. Woody Burton will be hosting several town hall meetings in Johnson County.

What:            Town Hall with Rep. Burton

When:           Tuesday, Jan. 8, 6:30-8 p.m.

Where:         White River Township Library (Community Room), 1664 Library Boulevard, Greenwood

What:            Town Hall with Rep. Burton

When:           Saturday, Jan. 12, 10 a.m.-12 p.m.

Where:         Greenwood City Hall Building, 2 North Madison Avenue, Greenwood

What:            Town Hall with Rep. Burton

When:           Saturday, Jan. 12, 1-2:30 p.m.

Where:         Whiteland Town Hall Building, 549 Main Street, Whiteland

Rep. Burton will be available to listen to constituents, discuss concerns and provide further information on the upcoming legislative session. He encourages all members of the community to come out and participate in the discussion.