IN HB1083 | 2013 | Regular Session
Status
Spectrum: Bipartisan Bill
Status: Introduced on January 7 2013 - 25% progression, died in chamber
Action: 2013-02-14 - Third reading: defeated; Roll Call 128: yeas 32, nays 58
Text: Latest bill text (Amended) [HTML]
Status: Introduced on January 7 2013 - 25% progression, died in chamber
Action: 2013-02-14 - Third reading: defeated; Roll Call 128: yeas 32, nays 58
Text: Latest bill text (Amended) [HTML]
Summary
Makes the following changes for purposes of the statutes that prescribe the maximum credit service charge for a consumer credit sale (other than a sale involving a revolving charge account) and the maximum loan finance charge for a supervised loan: (1) Increases the applicable amounts financed that are subject to the graduated service charge or loan finance charge percentages. (2) Increases the service charge or loan finance charge percentage that applies if the graduated percentages do not apply from 21% to 25%. Increases from 21% to 25% the permitted loan finance charge for consumer loans other than supervised loans. Provides that a lender may contract for and receive a loan origination fee of not more than $50 for consumer loans other than supervised loans and for supervised loans. (Current law provides that the permitted origination fee is 2% of the loan amount (or 2% of the line of credit for a revolving loan) for consumer loans other than supervised loans, and does not provide for any origination fee for supervised loans.) Specifies that a lender may impose the permitted minimum loan finance charge only if the lender does not assess a loan origination fee. Provides that if a lender retains any part of a loan origination fee charged on a loan that is paid in full by a new loan from the lender within three months of the prior loan, the lender may not charge a loan origination fee on the new loan.
Title
Charges for consumer loans and credit sales.
Sponsors
Roll Calls
2013-02-14 - House - House - Third reading: defeated (Y: 32 N: 58 NV: 1 Abs: 9) [FAIL]
History
| Date | Chamber | Action |
|---|---|---|
| 2013-02-14 | House | Third reading: defeated; Roll Call 128: yeas 32, nays 58 |
| 2013-02-12 | House | Amendment 1 (Burton), prevailed; voice vote |
| 2013-02-12 | House | Second reading: amended, ordered engrossed |
| 2013-02-07 | House | Representative GiaQuinta added as coauthor |
| 2013-02-07 | House | Committee report: amend do pass, adopted |
| 2013-01-07 | House | First reading: referred to Committee on Financial Institutions |
| 2013-01-07 | House | Authored by Representative Burton |
