S10127Introduced in the Senate
Extends the interest rate caps and criminal usury framework to covered services including but not limited to, retail installment contracts, merchant cash advances, invoice financing, revenue-based financing, or any transaction that in substance functions as the advance of funds in exchange for a future payment or obligation, regardless of the label assigned to such transaction.
Introduced by Rachel May, District 48
What does this bill do?
Plain-English breakdown
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Official description
Extends the interest rate caps and criminal usury framework to covered services including but not limited to, retail installment contracts, merchant cash advances, invoice financing, revenue-based financing, or any transaction that in substance functions as the advance of funds in exchange for a future payment or obligation, regardless of the label assigned to such transaction.
Where it stands
REFERRED TO JUDICIARY
April 30, 2026
How did lawmakers vote?
No recorded vote is available for this bill yet.
What do people think?
Citizen Voice
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Bill history
REFERRED TO JUDICIARY
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