Bill
Bill > S1285
summary
Introduced
02/07/2024
02/07/2024
In Committee
02/08/2024
02/08/2024
Crossed Over
Passed
Dead
04/12/2024
04/12/2024
Introduced Session
2024 Regular Session
Bill Summary
RELATING TO PAYDAY LOAN PROCEDURES; AMENDING SECTION 28-46-412, IDAHO CODE, TO PROVIDE A LIMITATION ON THE APR OF PAYDAY LOANS AND TO MAKE A TECHNI- CAL CORRECTION; AND DECLARING AN EMERGENCY AND PROVIDING AN EFFECTIVE DATE.
AI Summary
This bill amends existing law to provide a limitation on the annual percentage rate (APR) of payday loans in Idaho. Specifically, it sets a maximum APR of 36% for payday loans, which must be disclosed to borrowers. The bill also makes a technical correction to the existing law on payday loan procedures. The bill declares an emergency and states that it will take effect on July 1, 2024.
Committee Categories
Business and Industry, Justice
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Commerce and Human Resources Committee (Senate)
Last Action
Reported Printed; referred to Commerce & Human Resources (on 02/08/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://legislature.idaho.gov/sessioninfo/2024/legislation/S1285/ |
| BillText | https://legislature.idaho.gov/wp-content/uploads/sessioninfo/2024/legislation/S1285.pdf |
| Fiscal Note/Analysis - Statement of Purpose / Fiscal Note | https://legislature.idaho.gov/wp-content/uploads/sessioninfo/2024/legislation/S1285SOP.pdf |
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