Kentucky House Bill 489 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 6-0)
Status: Introduced on February 11 2022 - 25% progression, died in committee
Action: 2022-03-29 - recommitted to Appropriations & Revenue (H)
Pending: House Appropriations and Revenue Committee
Text: Latest bill text (Introduced) [PDF]

Establish Subtitle 12 of KRS Chapter 286 and create sections thereof to define terms; prohibit engaging in the business of nonrecourse consumer legal funding transactions without a license; establish licensing requirements; provide that nonrecourse consumer legal funding transactions are not loans and exempt from statute relating to interest; establish requirements for nonrecourse consumer legal funding transaction contracts; prohibit certain actions by nonrecourse consumer legal funding companies; provide for attorney communications and responsibilities; establish penalties; provide that the new subtitle on nonrecourse consumer legal funding shall not restrict the powers or duties of the Attorney General; amend KRS 286.4-410, 360.010, and 372.060 to conform.

AN ACT relating to nonrecourse consumer legal funding.

Rep. John Blanton [R]	Rep. Kimberly Banta [R]	Rep. Myron Dossett [R]	Rep. Patrick Flannery [R]
Rep. Bobby McCool [R]	Rep. Sal Santoro [R]

Date	Chamber	Action
2022-03-29	House	recommitted to Appropriations & Revenue (H)
2022-03-17	House	floor amendments (1) and (2) filed
2022-03-10	House	2nd reading, to Rules
2022-03-09	House	reported favorably, 1st reading, to Calendar
2022-03-08	House	to Judiciary (H)
2022-02-11	House	to Committee on Committees (H)
2022-02-11	House	introduced in House

Type	Source
Summary	https://apps.legislature.ky.gov/record/22RS/hb489.html
Text	https://apps.legislature.ky.gov/recorddocuments/bill/22RS/hb489/orig_bill.pdf
Amendment	https://apps.legislature.ky.gov/recorddocuments/bill/22RS/HB489/HFA1.pdf
Amendment	https://apps.legislature.ky.gov/recorddocuments/bill/22RS/HB489/HFA2.pdf