Legislation - SB0881

Title: Financial Institutions and Activities - Licensing Requirements and Regulation of Commercial Financing
Sponsored by: Senator Kramer
Status: In the House - Hearing 3/31 at 1:00 p.m.
Analysis: Fiscal and Policy Note (Revised)

Synopsis

Regulating commercial financing transactions, including by establishing requirements related to certain disclosures, calculations of annual percentage rates, terms of repayments, and other related items, and the extension of specific offers; providing that the revocation, suspension, surrender, or other termination of a certain license does not relieve a person of the obligation to pay certain assessments imposed by the Commissioner of Financial Regulation; etc.

Committees

Original:: Finance Click to view Recorded Media

Opposite:: Economic Matters Click to view Recorded Media

Committee Testimony

Witness List

Details

Cross-filed with: HB1007

Introduced in a prior session as: SB0754 Session: 2025 Regular Session

Bill File Type: Regular

Effective Date(s): October 1, 2026

History

Legislation History
Chamber Senate Calendar Date 2/06/2026 Legislative Date 2/06/2026 Action First Reading Finance Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Commercial Financing - Small Business Truth in Lending Act Proceedings
Chamber Senate Calendar Date 2/12/2026 Legislative Date 2/12/2026 Action Hearing 2/27 at 1:00 p.m. Proceedings
Chamber Calendar Date Legislative Date Action Vote - Senate - Committee - Finance Proceedings Click to view Recorded Media
Chamber Senate Calendar Date 3/19/2026 Legislative Date 3/19/2026 Action Favorable with Amendments Report by Finance Proceedings
Chamber Senate Calendar Date 3/19/2026 Legislative Date 3/03/2026 Action Favorable with Amendments {803427/1 Adopted Proceedings 42 Click to view Recorded Media
Chamber Senate Calendar Date 3/19/2026 Legislative Date 3/03/2026 Action Second Reading Passed with Amendments Proceedings 42 Click to view Recorded Media
Chamber Calendar Date Legislative Date Action Text - Third - Financial Institutions and Activities - Licensing Requirements and Regulation of Commercial Financing Proceedings
Chamber Senate Calendar Date 3/20/2026 Legislative Date 3/05/2026 Action Third Reading Passed (42-0) Proceedings 44 Click to view Recorded Media
Chamber House Calendar Date 3/21/2026 Legislative Date 3/09/2026 Action Referred Economic Matters Proceedings 46 Click to view Recorded Media
Chamber House Calendar Date 3/24/2026 Legislative Date 3/24/2026 Action Hearing 3/31 at 1:00 p.m. Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
Senate	2/06/2026	2/06/2026	First Reading Finance
			Text - First - Commercial Financing - Small Business Truth in Lending Act
Senate	2/12/2026	2/12/2026	Hearing 2/27 at 1:00 p.m.
			Vote - Senate - Committee - Finance	Click to view Recorded Media
Senate	3/19/2026	3/19/2026	Favorable with Amendments Report by Finance
Senate	3/19/2026	3/03/2026	Favorable with Amendments {803427/1 Adopted	42 Click to view Recorded Media
Senate	3/19/2026	3/03/2026	Second Reading Passed with Amendments	42 Click to view Recorded Media
			Text - Third - Financial Institutions and Activities - Licensing Requirements and Regulation of Commercial Financing
Senate	3/20/2026	3/05/2026	Third Reading Passed (42-0)	44 Click to view Recorded Media
House	3/21/2026	3/09/2026	Referred Economic Matters	46 Click to view Recorded Media
House	3/24/2026	3/24/2026	Hearing 3/31 at 1:00 p.m.

File Code

Subjects

Statutes