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CO SB185

Bill

Official Source

Status

Failed

5/4/2016

Primary Sponsor

Ray Scott

Click for details

Origin

Senate

2016 Regular Session

AI Summary

  • Requires the administrator to adjust dollar amounts for permissible finance charges on supervised loans and consumer credit sales to account for inflation from 2000 to 2017 by January 1, 2017.

  • Mandates annual inflation adjustments to finance charge amounts each January 1 thereafter.

  • Specifies adjustments shall be based on the Consumer Price Index for the Denver-Boulder-Greeley Metropolitan Statistical Area.

  • Takes effect August 10, 2016, unless a referendum petition is filed, in which case it requires voter approval at the November 2016 general election.

Legislative Description

Consumer Finance Charges Inflation Adjustment

Last Action

House Committee on State, Veterans, & Military Affairs Postpone Indefinitely

5/4/2016

Committee Referrals

State, Veterans, and Military Affairs4/27/2016
Finance4/12/2016

Full Bill Text

No bill text available