IN HB1136 | 2019 | Regular Session

Status

Completed Legislative Action
Spectrum: Moderate Partisan Bill (Republican 4-1)
Status: Passed on May 6 2019 - 100% progression
Action: 2019-05-06 - Public Law 280
Text: Latest bill text (Enrolled) [PDF]

Summary

Uniform Consumer Credit Code. Makes the following changes to the Uniform Consumer Credit Code (UCCC): (1) Amends the provisions authorizing specified additional charges for consumer loans to permit a lender to contract for and receive a transaction fee for a revolving loan account that may not exceed the greater of: (A) 2% of the amount of the transaction; or (B) $10. (Current law authorizes the lender to charge a transaction fee in the lesser of these two amounts.) (2) Replaces the authorized $5 delinquency charge (subject to indexing by the department of financial institutions) for consumer credit sales and consumer loans with a nonindexed delinquency charge of: (A) $5, if installments are due every 14 days or less; (B) $25, if installments are due every 15 days or more; or (C) $25, in the case of a single installment due at least 30 days after the sale or loan is made. (3) Specifies that a creditor may not charge or collect a delinquency charge on a payment that: (A) is paid within 10 days after its scheduled due date; and (B) is otherwise a full payment of the payment due for the applicable installment period; if the only delinquency with respect to a consumer credit sale or a consumer loan is attributable to a delinquency charge for an earlier installment. Specifies that an initial pleading related to a debt collection action filed by a debt buyer must include certain information. Makes a violation a deceptive act. Urges the legislative council to assign to an interim study committee, for study during the 2019 interim, the topic of revisions to the UCCC. Sets forth issues for consideration by an interim study committee assigned this topic.

Tracking Information

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Title

Uniform Consumer Credit Code. Makes the following changes to the Uniform Consumer Credit Code (UCCC): (1) Amends the provisions authorizing specified additional charges for consumer loans to permit a lender to contract for and receive a transaction fee for a revolving loan account that may not exceed the greater of: (A) 2% of the amount of the transaction; or (B) $10. (Current law authorizes the lender to charge a transaction fee in the lesser of these two amounts.) (2) Replaces the authorized $5 delinquency charge (subject to indexing by the department of financial institutions) for consumer credit sales and consumer loans with a nonindexed delinquency charge of: (A) $5, if installments are due every 14 days or less; (B) $25, if installments are due every 15 days or more; or (C) $25, in the case of a single installment due at least 30 days after the sale or loan is made. (3) Specifies that a creditor may not charge or collect a delinquency charge on a payment that: (A) is paid within 10 days after its scheduled due date; and (B) is otherwise a full payment of the payment due for the applicable installment period; if the only delinquency with respect to a consumer credit sale or a consumer loan is attributable to a delinquency charge for an earlier installment. Specifies that an initial pleading related to a debt collection action filed by a debt buyer must include certain information. Makes a violation a deceptive act. Urges the legislative council to assign to an interim study committee, for study during the 2019 interim, the topic of revisions to the UCCC. Sets forth issues for consideration by an interim study committee assigned this topic.

Sponsors


Roll Calls

2019-04-18 - House - House - House concurred in Senate amendments (Y: 68 N: 23 NV: 1 Abs: 8) [PASS]
2019-04-16 - Senate - Senate - Third reading (Y: 42 N: 6 NV: 1 Abs: 1) [PASS]
2019-04-10 - Senate - Senate - Committee Vote (Y: 9 N: 0 NV: 0 Abs: 0) [PASS]
2019-01-29 - House - Third reading (Y: 76 N: 21 NV: 2 Abs: 1) [PASS]
2019-01-28 - House - Amendment #3 (Shackleford) failed (Y: 30 N: 65 NV: 3 Abs: 2) [FAIL]
2019-01-22 - House - House - Committee Vote (Y: 11 N: 1 NV: 0 Abs: 1) [PASS]

History

DateChamberAction
2019-05-06HousePublic Law 280
2019-05-06HouseSigned by the Governor
2019-04-30SenateSigned by the President of the Senate
2019-04-22SenateSigned by the President Pro Tempore
2019-04-22HouseSigned by the Speaker
2019-04-18HouseHouse concurred in Senate amendments; Roll Call 552: yeas 68, nays 23
2019-04-17HouseMotion to concur filed
2019-04-16SenateReturned to the House with amendments
2019-04-16SenateThird reading: passed; Roll Call 479: yeas 42, nays 6
2019-04-15SenateSenator Randolph added as cosponsor
2019-04-15SenateSecond reading: ordered engrossed
2019-04-15SenateSenator Bassler added as second sponsor
2019-04-11SenateCommittee report: amend do pass, adopted
2019-02-27SenateFirst reading: referred to Committee on Insurance and Financial Institutions
2019-01-31HouseRepresentative Lehman added as coauthor
2019-01-30HouseReferred to the Senate
2019-01-29HouseSenate sponsor: Senator Zay
2019-01-29HouseThird reading: passed; Roll Call 58: yeas 76, nays 21
2019-01-28HouseAmendment #3 (Shackleford) failed; Roll Call 41: yeas 31, nays 64
2019-01-28HouseAmendment #2 (Lehman) prevailed; voice vote
2019-01-28HouseSecond reading: amended, ordered engrossed
2019-01-24HouseCommittee report: amend do pass, adopted
2019-01-07HouseFirst reading: referred to Committee on Financial Institutions
2019-01-07HouseAuthored by Representative Burton

Indiana State Sources

TypeSource
Summaryhttp://iga.in.gov/legislative/2019/bills/house/1136/
Texthttp://iga.in.gov/static-documents/f/7/4/0/f74045a7/HB1136.01.INTR.pdf
Texthttp://iga.in.gov/static-documents/e/b/4/5/eb452109/HB1136.01.INTR.pdf
Texthttp://iga.in.gov/static-documents/3/5/3/2/3532d787/HB1136.02.COMH.pdf
Texthttp://iga.in.gov/static-documents/a/4/9/b/a49bce0c/HB1136.02.COMH.pdf
Texthttp://iga.in.gov/static-documents/8/5/2/b/852ba564/HB1136.03.ENGH.pdf
Texthttp://iga.in.gov/static-documents/4/4/6/7/4467176f/HB1136.03.ENGH.pdf
Texthttp://iga.in.gov/static-documents/1/b/e/7/1be72694/HB1136.04.COMS.pdf
Texthttp://iga.in.gov/static-documents/a/9/4/f/a94fe463/HB1136.04.COMS.pdf
Texthttp://iga.in.gov/static-documents/8/8/f/3/88f37a3b/HB1136.05.ENRS.pdf
Roll Callhttp://iga.in.gov/static-documents/5/9/4/4/5944f192/HB1136.01.INTR.04.pdf
Roll Callhttp://iga.in.gov/static-documents/8/3/5/1/83514fba/HB1136.41.pdf
Roll Callhttp://iga.in.gov/static-documents/d/2/6/c/d26c79b9/HB1136.58.pdf
Roll Callhttp://iga.in.gov/static-documents/7/f/c/0/7fc0caab/HB1136.03.ENGH.01.pdf
Roll Callhttp://iga.in.gov/static-documents/6/9/a/9/69a9c1e8/HB1136.479.pdf
Roll Callhttp://iga.in.gov/static-documents/2/8/0/5/280577b9/HB1136.552.pdf

Bill Comments

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