STATEMENT TO

ASSEMBLY, No. 2164

with Assembly Floor Amendments

(Proposed By Assemblyman BATEMAN)

ADOPTED: DECEMBER 12, 1996

      This bill provides for open-end home repair contracts. This amendment requires that, for open-end home repair contracts, the regularly scheduled minimum monthly payments of principal and interest for any debt incurred for the purchase of a home improvement will result in positive amortization of the debt and will not increase the amount of the debt outstanding. With these amendments, this bill is identical to S-1275(1R).