Indiana Senate Bill 200

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Spectrum: Bipartisan Bill
Status: Engrossed on January 31 2024 - 50% progression
Action: 2024-02-13 - Representative Hamilton added as cosponsor
Pending: House Financial Institutions Committee
Text: Latest bill text (Comm Sub) [PDF]

Nonprofit loan center loans for state employees. Provides that not later than: (1) September 1, 2024, in the case of a state agency other than a state educational institution or a school corporation; (2) September 1, 2025, in the case of a state agency that is a state educational institution; or (3) September 1, 2026, in the case of a state agency that is a school corporation; a state agency shall partner with each nonprofit loan center (NLC) operating in Indiana to become a participating employer in the NLC's nonprofit loan center program (NLC program) by offering voluntary payroll deductions for eligible full-time employees to make payments toward the balance of a nonprofit loan center loan (NLC loan) made by a nonprofit loan center lender (NLC lender). Provides that after becoming a participating employer in an NLC program, a state agency shall allow an eligible employee to: (1) voluntarily request and establish payroll deductions for an NLC loan at any time; and (2) revoke the employee's authorization for payroll deductions for an NLC loan at any time; including any time that falls outside a designated open enrollment period for employee benefits. Defines an "NLC loan" as a loan that meets certain requirements with respect to the principal amount, loan term, finance charge, authorized fees, method of repayment, and other loan terms. Authorizes the state comptroller to authorize the electronic transfer of funds from the state treasury to a designated NLC lender in payment of an NLC loan on behalf of an eligible employee who has voluntarily given the state comptroller written authorization, through the eligible employee's employing state agency, to make the transfer. Specifies that: (1) a loan made under the bill's provisions; or (2) a person that makes a loan under the bill's provisions; is subject to the requirements of the Uniform Consumer Credit Code chapter governing consumer loans. Provides that a depository institution may make a loan under the same terms and conditions that apply with respect to a nonprofit loan center loan to an employee of: (1) a state agency; or (2) any other employer; as long as the loan is made in compliance with any applicable law. Allows a wage assignment to be made for the purpose of making payment to a depository institution in repayment of a loan that is made to the employee by the depository institution under the same terms and conditions that apply with respect to an NLC loan. Authorizes the electronic transfer of funds from the state treasury on behalf of an employee of a state agency in payment of a loan made by a depository institution to the employee under the same terms and conditions that apply to an NLC loan.

Nonprofit loan center loans for state employees.

Sen. Spencer Deery [R]	Sen. Eric Bassler [R]	Sen. Greg Walker [R]	Sen. Fady Qaddoura [D]
Sen. Lonnie Randolph [D]	Sen. Shelli Yoder [D]	Rep. Julie McGuire [R]	Rep. Carey Hamilton [D]

2024-01-29 - Senate - Senate - Third reading (Y: 41 N: 8 NV: 0 Abs: 1) [PASS]

Date	Chamber	Action
2024-02-13	House	Representative Hamilton added as cosponsor
2024-02-06	House	First reading: referred to Committee on Financial Institutions
2024-01-31	Senate	Referred to the House
2024-01-29	Senate	House sponsor: Representative McGuire
2024-01-29	Senate	Third reading: passed; Roll Call 50: yeas 41, nays 8
2024-01-25	Senate	Second reading: ordered engrossed
2024-01-23	Senate	Senator Yoder added as coauthor
2024-01-23	Senate	Senator Randolph added as coauthor
2024-01-18	Senate	Senator Qaddoura added as coauthor
2024-01-18	Senate	Senator Walker G added as third author
2024-01-18	Senate	Senator Bassler added as second author
2024-01-18	Senate	Committee report: amend do pass, adopted
2024-01-09	Senate	First reading: referred to Committee on Insurance and Financial Institutions
2024-01-09	Senate	Authored by Senator Deery

Type	Source
Summary	https://iga.in.gov/legislative/2024/bills/senate/200/details
Text	https://iga.in.gov/pdf-documents/123/2024/senate/bills/SB0200/SB0200.01.INTR.pdf
Text	https://iga.in.gov/pdf-documents/123/2024/senate/bills/SB0200/SB0200.02.COMS.pdf
Amendment	https://iga.in.gov/pdf-documents/123/2024/senate/bills/SB0200/committee-amendments/amendments/SB0200.01.INTR.AMS01.pdf
Supplement	https://iga.in.gov/pdf-documents/123/2024/senate/bills/SB0200/fiscal-notes/SB0200.01.INTR.FN001.pdf
Supplement	https://iga.in.gov/pdf-documents/123/2024/senate/bills/SB0200/votesheets/SB0200.01.INTR.02.pdf
Supplement	https://iga.in.gov/pdf-documents/123/2024/senate/bills/SB0200/committee-reports/SB0200.01.INTR.CRS001.pdf
Supplement	https://iga.in.gov/pdf-documents/123/2024/senate/bills/SB0200/fiscal-notes/SB0200.02.COMS.FN001.pdf
Supplement	https://iga.in.gov/pdf-documents/123/2024/senate/bills/SB0200/fiscal-notes/SB0200.02.COMS.FN002.pdf
Supplement	https://iga.in.gov/pdf-documents/123/2024/senate/bills/SB0200/fiscal-notes/SB0200.02.COMS.FN003.pdf
Roll Call	https://iga.in.gov/pdf-documents/123/2024/senate/bills/SB0200/rollcalls/SB0200.50_S.pdf