Bill Title: Amends the Consumer Installment Loan Act. Defines "title-secured loan". Provides that for title-secured loans entered into or renewed on or after the effective date of the Act: (i) a licensee shall not contract for or receive a charge exceeding 36% annual percentage rate on the unpaid balance of the amount financed for a title-secured loan; (ii) the loan contract shall provide for repayment of the principal and charges within specified maximum loan terms; (iii) upon or after default, a licensee shall not charge a borrower any finance charges, interest, fees, or charges of any kind; and (iv) the loan may be refinanced if the original principal of the loan has been reduced by at least 60%. Provides that nothing in these provisions abrogates a borrower's right to collect any surplus arising from the sale of a motor vehicle under the Uniform Commercial Code.

Spectrum: Moderate Partisan Bill (Democrat 37-7)

Status: (Introduced - Dead) 2020-07-24 - Added Co-Sponsor Rep. Andrew S. Chesney [HB2468 Detail]

Text: Latest bill text (Introduced) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Representative Emanuel Welch [D]	Primary	Sponsored Bills	HD-007	FollowTheMoney	Ballotpedia	VoteSmart
Representative Theresa Mah [D]	Cosponsor	Sponsored Bills	HD-024	FollowTheMoney	Ballotpedia	VoteSmart
Representative Christopher Davidsmeyer [R]	Cosponsor	Sponsored Bills	HD-100	FollowTheMoney	Ballotpedia	VoteSmart
Representative David Welter [R]	Cosponsor	Sponsored Bills	HD-075	FollowTheMoney	Ballotpedia	VoteSmart
Representative William Davis [D]	Cosponsor	Sponsored Bills	HD-030	FollowTheMoney	Ballotpedia	VoteSmart
Representative Joe Sosnowski [R]	Cosponsor	Sponsored Bills	HD-069	FollowTheMoney	Ballotpedia	VoteSmart
Representative Jehan Gordon-Booth [D]	Cosponsor	Sponsored Bills	HD-092	FollowTheMoney	Ballotpedia	VoteSmart
Senator Thomas Bennett [R]	Cosponsor	Sponsored Bills	SD-053	FollowTheMoney	Ballotpedia	VoteSmart
Representative Grant Wehrli [R]	Cosponsor	Sponsored Bills	HD-041	FollowTheMoney	Ballotpedia	VoteSmart
Representative Natalie Manley [D]	Cosponsor	Sponsored Bills	HD-098	FollowTheMoney	Ballotpedia	VoteSmart
Representative Luis Arroyo [D]	Cosponsor	Sponsored Bills	HD-003	FollowTheMoney	Ballotpedia	VoteSmart
Representative Arthur Turner [D]	Cosponsor	Sponsored Bills	HD-009	FollowTheMoney	Ballotpedia	VoteSmart
Representative Kathleen Willis [D]	Cosponsor	Sponsored Bills	HD-077	FollowTheMoney	Ballotpedia	VoteSmart
Representative Gregory Harris [D]	Cosponsor	Sponsored Bills	HD-013	FollowTheMoney	Ballotpedia	VoteSmart
Representative Bob Morgan [D]	Cosponsor	Sponsored Bills	HD-058	FollowTheMoney	Ballotpedia	VoteSmart
Representative Anna Moeller [D]	Cosponsor	Sponsored Bills	HD-043	FollowTheMoney	Ballotpedia	VoteSmart
Representative Carol Ammons [D]	Cosponsor	Sponsored Bills	HD-103	FollowTheMoney	Ballotpedia	VoteSmart
Representative Jonathan Carroll [D]	Cosponsor	Sponsored Bills	HD-057	FollowTheMoney	Ballotpedia	VoteSmart
Representative Maurice West [D]	Cosponsor	Sponsored Bills	HD-067	FollowTheMoney	Ballotpedia	VoteSmart
Representative Lamont Robinson [D]	Cosponsor	Sponsored Bills	HD-005	FollowTheMoney	Ballotpedia	VoteSmart
Representative Delia Ramirez [D]	Cosponsor	Sponsored Bills	HD-004	FollowTheMoney	Ballotpedia	VoteSmart
Representative LaShawn Ford [D]	Cosponsor	Sponsored Bills	HD-008	FollowTheMoney	Ballotpedia	VoteSmart
Representative Nicholas Smith [D]	Cosponsor	Sponsored Bills	HD-034	FollowTheMoney	Ballotpedia	VoteSmart
Representative Kambium Buckner [D]	Cosponsor	Sponsored Bills	HD-026	FollowTheMoney	Ballotpedia	VoteSmart
Senator Mary Edly-Allen [D]	Cosponsor	Sponsored Bills	SD-031	FollowTheMoney	Ballotpedia	VoteSmart
Representative Robyn Gabel [D]	Cosponsor	Sponsored Bills	HD-018	FollowTheMoney	Ballotpedia	VoteSmart
Representative Jennifer Gong-Gershowitz [D]	Cosponsor	Sponsored Bills	HD-017	FollowTheMoney	Ballotpedia	VoteSmart
Representative Kelly Cassidy [D]	Cosponsor	Sponsored Bills	HD-014	FollowTheMoney	Ballotpedia	VoteSmart
Representative Will Guzzardi [D]	Cosponsor	Sponsored Bills	HD-039	FollowTheMoney	Ballotpedia	VoteSmart
Senator Michael Halpin [D]	Cosponsor	Sponsored Bills	SD-036	FollowTheMoney	Ballotpedia	VoteSmart
Representative Sonya Harper [D]	Cosponsor	Sponsored Bills	HD-006	FollowTheMoney	Ballotpedia	VoteSmart
Representative Martin Moylan [D]	Cosponsor	Sponsored Bills	HD-055	FollowTheMoney	Ballotpedia	VoteSmart
Representative Terra Costa Howard [D]	Cosponsor	Sponsored Bills	HD-042	FollowTheMoney	Ballotpedia	VoteSmart
Senator Diane Pappas [D]	Cosponsor	Sponsored Bills	SD-023	FollowTheMoney	Ballotpedia	VoteSmart
Representative Katie Stuart [D]	Cosponsor	Sponsored Bills	HD-112	FollowTheMoney	Ballotpedia	VoteSmart
Representative Andre Thapedi [D]	Cosponsor	Sponsored Bills	HD-032	FollowTheMoney	Ballotpedia	VoteSmart
Representative Rita Mayfield [D]	Cosponsor	Sponsored Bills	HD-060	FollowTheMoney	Ballotpedia	VoteSmart
Representative Anne Stava-Murray [D]	Cosponsor	Sponsored Bills	HD-081	FollowTheMoney	Ballotpedia	VoteSmart
Representative Sue Scherer [D]	Cosponsor	Sponsored Bills	HD-096	FollowTheMoney	Ballotpedia	VoteSmart
Representative Latoya Greenwood [D]	Cosponsor	Sponsored Bills	HD-114	FollowTheMoney	Ballotpedia	VoteSmart
Representative Debbie Meyers-Martin [D]	Cosponsor	Sponsored Bills	HD-038	FollowTheMoney	Ballotpedia	VoteSmart
Representative Ryan Spain [R]	Cosponsor	Sponsored Bills	HD-073	FollowTheMoney	Ballotpedia	VoteSmart
Representative Fred Crespo [D]	Cosponsor	Sponsored Bills	HD-044	FollowTheMoney	Ballotpedia	VoteSmart
Senator Andrew Chesney [R]	Cosponsor	Sponsored Bills	SD-045	FollowTheMoney	Ballotpedia	VoteSmart

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