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HB1606Introduced in the House of Delegates

Credit Regulation - Maximum Interest Rate for Active Service Members (Service Members Civil Relief Act)

IntroducedHouse Rules and Executive Nominations

Introduced by Darrell Odom, District 27

What does this bill do?

Plain-English breakdown

Writing a plain-English summary of this bill… this can take a few seconds the first time.

Official description

Prohibiting a person from charging an annual interest rate above 6% per year on a certain obligation held by an active service member or jointly by an active service member and the active service member's spouse; requiring that the active service member or the active service member's spouse provide the creditor with certain notice and documentation not later than 180 days after termination or discharge from active duty; and authorizing a court to grant a creditor relief from application of the Act after a certain finding.

Where it stands

First Reading House Rules and Executive Nominations

February 17, 2026

How did lawmakers vote?

No recorded vote is available for this bill yet.

Bill history

  1. First Reading House Rules and Executive Nominations

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