Bill Text: TX SB1000 | 2013-2014 | 83rd Legislature | Introduced
Bill Title: Relating to the authority of a municipality to regulate fees charged in connection with certain loans.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced - Dead) 2013-03-12 - Referred to Business & Commerce [SB1000 Detail]
Download: Texas-2013-SB1000-Introduced.html
83R10285 ATP-D | ||
By: Davis, Rodriguez | S.B. No. 1000 |
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relating to the authority of a municipality to regulate fees | ||
charged in connection with certain loans. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Subchapter A, Chapter 215, Local Government | ||
Code, is amended by adding Section 215.005 to read as follows: | ||
Sec. 215.005. REGULATION OF CERTAIN LOANS. (a) In this | ||
section, "deferred presentment transaction" and "motor vehicle | ||
title loan" have the meanings assigned by Section 393.601, Finance | ||
Code. | ||
(b) A municipality may by ordinance regulate the fees that | ||
may be charged to a borrower in connection with making, | ||
facilitating, or obtaining a deferred presentment transaction or | ||
motor vehicle title loan. | ||
SECTION 2. This Act takes effect immediately if it receives | ||
a vote of two-thirds of all the members elected to each house, as | ||
provided by Section 39, Article III, Texas Constitution. If this | ||
Act does not receive the vote necessary for immediate effect, this | ||
Act takes effect September 1, 2013. |