Indiana Senate Bill 395 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 3-0)
Status: Passed on March 18 2020 - 100% progression
Action: 2020-03-18 - Public Law 85
Text: Latest bill text (Enrolled) [PDF]

Uniform Consumer Credit Code. Amends the Uniform Consumer Credit Code (UCCC) as follows: (1) Changes: (A) from July 1 of each even-numbered year to January 1 of each odd-numbered year the effective date for the adjustment, based on changes in the Consumer Price Index, of various dollar amounts set forth in the UCCC; and (B) the corresponding date that precedes the adjustment date and by which the department of financial institutions (department) must issue an emergency rule announcing the adjustment. (2) For an agreement for a consumer credit sale entered into after June 30, 2020: (A) authorizes a seller to contract for and receive a nonrefundable prepaid finance charge based on the amount financed, in addition to the credit service charge and any other authorized charges and fees; and (B) prohibits precomputed consumer credit sales. (3) Repeals a provision concerning the credit service charge for revolving charge accounts and relocates the language to the provision concerning the authorized credit service charge for consumer sales. (4) For an agreement for a consumer loan entered into after June 30, 2020: (A) changes the amount of the authorized nonrefundable prepaid finance charge from $50 to an amount that is not more than: (i) $75; (ii) $150; or (iii) $200; based on the amount financed, in the case of a consumer loan not secured by an interest in land; and (B) prohibits precomputed consumer loans. Makes conforming changes with respect to supervised loans. Changes from $1.50 to $3 the amount of the fee that a lessor in a rental purchase agreement may impose for accepting rental payments by telephone. Makes conforming technical amendments throughout the UCCC to reflect the bill's changes.

Uniform Consumer Credit Code.

Sen. Eric Bassler [R]

Sen. John Ruckelshaus [R]

Rep. Charles Burton [R]

2020-03-10 - Senate - Senate - Rules Suspended. Senate concurred in House amendments (Y: 40 N: 7 NV: 3 Abs: 0) [PASS]
2020-03-03 - House - House - Third reading (Y: 77 N: 17 NV: 1 Abs: 5) [PASS]
2020-02-25 - House - House - Committee Vote (Y: 6 N: 3 NV: 0 Abs: 3) [PASS]
2020-02-04 - Senate - Senate - Third reading (Y: 40 N: 9 NV: 0 Abs: 1) [PASS]
2020-01-29 - Senate - Senate - Committee Vote (Y: 7 N: 2 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2020-03-18	Senate	Public Law 85
2020-03-18	Senate	Signed by the Governor
2020-03-18	Senate	Signed by the President of the Senate
2020-03-16	House	Signed by the Speaker
2020-03-12	Senate	Signed by the President Pro Tempore
2020-03-10	Senate	Rules Suspended. Senate concurred in House amendments; Roll Call 355: yeas 40, nays 7
2020-03-10	Senate	Motion to concur filed
2020-03-10	Senate	Dissent rescinded
2020-03-09	House	House advisors appointed: Heaton, Lehman, VanNatter, Chyung and Shackleford
2020-03-09	House	House conferees appointed: Burton and Hamilton
2020-03-09	Senate	Senate advisors appointed: Ruckelshaus and Ford J.D.
2020-03-09	Senate	Senate conferees appointed: Bassler and Breaux
2020-03-05	Senate	Senate dissented from House amendments
2020-03-05	Senate	Motion to dissent filed
2020-03-04	House	Returned to the Senate with amendments
2020-03-03	House	Third reading: passed; Roll Call 295: yeas 77, nays 17
2020-03-02	House	Second reading: ordered engrossed
2020-02-25	House	Committee report: amend do pass, adopted
2020-02-11	House	First reading: referred to Committee on Financial Institutions
2020-02-05	Senate	Referred to the House
2020-02-04	Senate	House sponsor: Representative Burton
2020-02-04	Senate	Third reading: passed; Roll Call 178: yeas 40, nays 9
2020-02-03	Senate	Second reading: ordered engrossed
2020-02-03	Senate	Senator Ruckelshaus added as second author
2020-01-30	Senate	Committee report: amend do pass, adopted
2020-01-14	Senate	First reading: referred to Committee on Insurance and Financial Institutions
2020-01-14	Senate	Authored by Senator Bassler

Type	Source
Summary	https://iga.in.gov/legislative/2020/bills/senate/395/details
Text	http://iga.in.gov/static-documents/6/f/2/d/6f2ddcf9/SB0395.01.INTR.pdf
Text	http://iga.in.gov/static-documents/8/0/9/0/809075e4/SB0395.01.INTR.pdf
Text	http://iga.in.gov/static-documents/7/7/1/f/771f0828/SB0395.02.COMS.pdf
Text	http://iga.in.gov/static-documents/c/1/9/f/c19f2522/SB0395.02.COMS.pdf
Text	http://iga.in.gov/static-documents/9/a/b/a/9aba48ef/SB0395.03.COMH.pdf
Text	http://iga.in.gov/static-documents/e/b/1/a/eb1a4570/SB0395.03.COMH.pdf
Text	http://iga.in.gov/static-documents/1/7/b/3/17b3ad4a/SB0395.04.ENRH.pdf
Roll Call	http://iga.in.gov/static-documents/e/6/b/e/e6be09c2/SB0395.01.INTR.00.pdf
Roll Call	http://iga.in.gov/static-documents/0/7/5/4/075447e6/SB0395.178_S.pdf
Roll Call	http://iga.in.gov/static-documents/5/9/9/e/599ea77d/SB0395.02.COMS.00.pdf
Roll Call	http://iga.in.gov/static-documents/b/d/c/2/bdc252c3/SB0395.295_H.pdf
Roll Call	http://iga.in.gov/static-documents/4/3/8/8/4388971e/SB0395.355_S.pdf