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Summary: Identity recovery services are provided by private entities that help reinstate one's identity after experiencing identity theft. The payment for these services can come through various contractual financing options. SB 1388 would streamline the service contract registration system by eliminating the stand-alone service contract provider category and allowing identity recovery service contract providers to sell stand-alone identity recovery service contracts as service contract providers.
Analysis: SB 1388 would simplify the contractual financing options by permitting one registration program, the general service contract provider versus the identity recovery stand-alone contract. Although this streamlines contractual options, SB 1388 does not limit government’s overall scope because the financing still takes place under the state’s governance. Therefore, we are neutral on SB 1388.