SB 121-SECURITY FREEZE ON CERTAIN CREDIT REPORTS  2:14:22 PM CHAIR LEDOUX announced that the next order of business would be CS FOR SENATE BILL NO. 121(JUD) am H, "An Act relating to a security freeze on the consumer credit report of a minor, incapacitated person, or protected person." 2:15:05 PM SENATOR KEVIN MEYER, Alaska State Legislature, explained that SB 121 is a consumer protection bill addressing protection of children and other vulnerable individuals before they become victims of identity theft. He remarked that his staff, Ms. Morledge will describe the details of the bill. 2:16:22 PM EDRA MORLEDGE, Staff, Senator Kevin Meyer, Alaska State Legislature, advised that the issue was brought to Senator Meyer's attention when a constituent advised that she and her husband placed security freezes on their credit shortly after taking out a mortgage and they looked into doing the same for their children to pre-empt any sort of criminal activity. They found that Alaska does not have a specific law allowing that, although, some credit agencies do give parents leeway, there is not a specific statute. She explained that this bill is designed to prevent these criminal acts or identity theft acts by doing two things: specifically allow a parent, guardian, or conservator to place a security freeze on a minor child, dependent, or a protected individual's credit in order to prevent fraudulent activity; and if no credit report exists, the credit bureau is directed to create a credit file in order to place the freeze. She pointed out that children, in general, do not begin to establish credit until they are 18 years, or at the time they apply for financial aid, which can be 16 years of age in this state, and several years may pass by before financial fraud is detected. The same is true for vulnerable adults who may not be able to manage their own personal finances; therefore, possibly not establishing credit in their own name and many years may pass by before the fraud it detected. CHAIR LEDOUX listed the witnesses available to answer questions and opened public testimony. 2:19:06 PM LAURA HUGHES said she is in support of this bill and that she is excited to see how far it has come through the Senate and House of Representatives. She advised that she and her husband have two young girls and realized the girls are more likely to have their identity stolen because they are essentially a clean slate. She agreed that oftentimes it is unknown that the children's identities have been stolen until they are 18 years old, and this is a pre-emptive move to help protect them. CHAIR LEDOUX closed public testimony, and advised she is holding the SB 121. [SB 121 was held over.]