Legislation - HB1606

Title: Credit Regulation - Maximum Interest Rate for Active Service Members (Service Members Civil Relief Act)
Sponsored by: Delegate Odom
Status: In the House - First Reading House Rules and Executive Nominations
Analysis

Synopsis

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.

Committees

Original:: Rules and Executive Nominations

Details

Cross-filed with: SB0317

Bill File Type: Regular

Effective Date(s): July 1, 2026

History

Legislation History
Chamber House Calendar Date 2/17/2026 Legislative Date 2/17/2026 Action First Reading House Rules and Executive Nominations Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Credit Regulation - Maximum Interest Rate for Active Service Members (Service Members Civil Relief Act) Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
House	2/17/2026	2/17/2026	First Reading House Rules and Executive Nominations
			Text - First - Credit Regulation - Maximum Interest Rate for Active Service Members (Service Members Civil Relief Act)

File Code

Subjects

Statutes