CS/HB 1347: Consumer Finance Loans
GENERAL BILL by Commerce Committee ; Brackett ; (CO-INTRODUCERS) López, J.
Consumer Finance Loans; Prohibits person from operating branch of business making consumer finance loans before obtaining license; revises maximum interest rates on consumer finance loans; revises minimum amount of time before delinquency charge may be imposed; requires licensees offering assistance program to borrowers after federally declared major disaster to send notice to office; requires licensees to offer to borrowers credit education programs or seminars; provides requirements for licensee claiming submitted information contains trade secret; requires licensees to suspend actions for certain timeframe after federally declared disaster.
- Fiscal Policy (FP)
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Bill History
Date Chamber Action 1/5/2024 House • Filed
1/9/2024 House • 1st Reading (Original Filed Version)
1/13/2024 House • Referred to Insurance & Banking Subcommittee
• Referred to State Administration & Technology Appropriations Subcommittee
• Referred to Commerce Committee
• Now in Insurance & Banking Subcommittee
1/23/2024 House • Added to Insurance & Banking Subcommittee agenda
1/25/2024 House • Favorable by Insurance & Banking Subcommittee
1/26/2024 House • Reported out of Insurance & Banking Subcommittee
• Now in State Administration & Technology Appropriations Subcommittee
2/2/2024 House • Added to State Administration & Technology Appropriations Subcommittee agenda
2/6/2024 House • Favorable by State Administration & Technology Appropriations Subcommittee
• Reported out of State Administration & Technology Appropriations Subcommittee
• Now in Commerce Committee
2/13/2024 House • Added to Commerce Committee agenda
2/15/2024 House • Favorable with CS by Commerce Committee
2/16/2024 House • Reported out of Commerce Committee
• Laid on Table under Rule 7.18(a)
• CS Filed
2/19/2024 House • Bill referred to House Calendar
• 1st Reading (Committee Substitute 1)
• Added to Second Reading Calendar
2/27/2024 House • Bill added to Special Order Calendar (3/1/2024)
3/1/2024 House • Read 2nd time
• Placed on 3rd reading
• Added to Third Reading Calendar
3/4/2024 House • Read 3rd time
• CS passed; YEAS 104, NAYS 10
3/4/2024 Senate • In Messages
• Referred to Fiscal Policy
• Withdrawn from Fiscal Policy -SJ 647
• Placed on Calendar, on 2nd reading
• Substituted for CS/SB 1436 -SJ 647
• Received
• Read 2nd time -SJ 647, 652
• Read 3rd time -SJ 653
• CS passed; YEAS 21 NAYS 18 -SJ 653
3/4/2024 House • In Messages
• Ordered enrolled
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CS/HB 1347, Enrolled (Current Bill Version) Posted 3/5/2024 at 8:25 AM
Bill Text: PDF Analyses: None Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 1436 (c1) Consumer Finance Loans Burton Similar Last Action: 3/4/2024 S Laid on Table, refer to CS/HB 1347 -SJ 647 
Citations - Statutes (8)
Citation Catchline Location in Bill Location In Bill Help 516.01 Definitions. Page 2 (pdf) 516.02 Loans; lines of credit; rate of interest; license. Page 4 (pdf) 516.03 Application for license; fees; etc. Page 4 (pdf) 516.031 Finance charge; maximum rates. Page 6 (pdf) 516.15 Duties of licensee. Page 9 (pdf) 516.19 Penalties. Page 14 (pdf) 516.38 Page 11 (pdf) 516.39 Page 13 (pdf) -
CS/HB 1347, Committee Substitute 1 Posted 2/16/2024 at 2:54 PM
Bill Text: PDF Analyses: None Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 1436 (c1) Consumer Finance Loans Burton Similar Last Action: 3/4/2024 S Laid on Table, refer to CS/HB 1347 -SJ 647
Floor Votes (2)
Date Chamber Result 3/4/2024 12:48 PM House 104 Yeas - 10 Nays 3/4/2024 7:25 PM Senate 21 Yeas - 18 Nays Citations - Statutes (8)
Citation Catchline Location in Bill Location In Bill Help 516.01 Definitions. Page 2 (pdf) 516.02 Loans; lines of credit; rate of interest; license. Page 4 (pdf) 516.03 Application for license; fees; etc. Page 4 (pdf) 516.031 Finance charge; maximum rates. Page 6 (pdf) 516.15 Duties of licensee. Page 9 (pdf) 516.19 Penalties. Page 14 (pdf) 516.38 Page 11 (pdf) 516.39 Page 13 (pdf) -
HB 1347, Original Filed Version Posted 1/5/2024 at 3:35 PM
Bill Text: PDF Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 1436 (c1) Consumer Finance Loans Burton Similar Last Action: 3/4/2024 S Laid on Table, refer to CS/HB 1347 -SJ 647
Committee Amendments (1)
Amendment Sponsor Filed Last Committee Action Format 424401 - Amendment
Remove lines 211-238 and insert:Brackett 2/13/2024
8:14 PMAdopted without Objection
2/15/2024PDF Citations - Statutes (8)
Citation Catchline Location in Bill Location In Bill Help 516.01 Definitions. Page 2 (pdf) 516.02 Loans; lines of credit; rate of interest; license. Page 4 (pdf) 516.03 Application for license; fees; etc. Page 4 (pdf) 516.031 Finance charge; maximum rates. Page 6 (pdf) 516.15 Duties of licensee. Page 9 (pdf) 516.19 Penalties. Page 10 (pdf) 516.38 Page 12 (pdf) 516.39 Page 13 (pdf)