Relating to permissible interest rates and charges for certain loans

Where it is now

1. ✓
   Done: IntroducedFebruary 6, 2019
2. –
   Skipped: SubcommitteeSkipped
3. ✓
   Done: Senate committeeFebruary 20, 2019
4. ✓
   Done: Passes the SenateApril 8, 201940–10
5. –
   Skipped: House committeeSkipped
6. ✓
   Done: Passes the HouseMarch 13, 201953–46
7. ✓
   Done: To the GovernorApril 15, 2019
8. ✓
   Done: Signed into lawApril 15, 2019

HF 260 became law → The same legislation passed as HF 260, so this version was set aside. Go to HF 260 What’s a funnel?

What’s in it

This bill relates to permissible interest rates and charges for certain loans. Current law allows the superintendent of banking to establish the maximum rate of interest or charges for regulated loans subject to Code chapter 536 with unpaid principal balances of $10,000 or less. The bill increases this amount to $30,000. For loans with unpaid principal balances in excess of $30,000 (formerly $10,000), the maximum interest rate or charges a lender may charge remains the greater of the rate permitted in Code chapter 535 or the rate authorized for supervised financial organizations in Code chapter 537.

Full bill text · What changed before it passed¹

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