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MS HB1427
Bill
Status
Failed
3/4/2025
Primary Sponsor
Shane Aguirre
Click for details
AI Summary
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Increases the maximum outstanding principal balance for credit availability accounts from $2,500.00 to $3,250.00.
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Requires the Department of Banking and Consumer Finance to issue an annual memo by July 1 each year adjusting the maximum outstanding principal balance based on the previous year's Consumer Price Index for All Urban Consumers (CPI-U), rounded upward to the nearest $10.00 increment.
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Extends the repeal date of the Mississippi Credit Availability Act from July 1, 2026 to July 1, 2030.
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Takes effect July 1, 2025.
Legislative Description
Mississippi Credit Availability Act; extend repealer and revise and create cap adjustment based on the CPI-U.
Last Action
Died In Committee
3/4/2025
Committee Referrals
Business and Financial Institutions2/17/2025
Banking and Financial Services1/20/2025
Full Bill Text
No bill text available