2020 Session

Budget Amendments - HB30 (Member Request)

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Chief Patron: Murphy
HB 843 - Interest Rate Cap for Specific Loans

Item 483 #1h

Item 483 #1h

First Year - FY2021 Second Year - FY2022
Independent Agencies
State Corporation Commission FY2021 $50,000 FY2022 $50,000 GF

Page 471, line 3, strike "$76,268,957" and insert "$76,318,957".
Page 471, line 3, strike "$76,356,892" and insert "$76,406,892".


(This amendment provides $50,000 in each year from the general fund pursuant to the passage of House Bill 843 in the 2020 General Assembly session, which caps the rate of interest that may be charged on motor vehicle title loans, payday loans, and open-end credit plans at 36 percent per year.)