HB319 Alabama 2013 Session

Updated Jul 24, 2021

House Bill

Expired

Current Status

Regular Session 2013

Session

5

Summary

Primary Sponsor: Patricia Todd
Democrat
Co-Sponsors: Laura Hall Lawrence McAdory James E. Buskey Merika Coleman
Session: Regular Session 2013
Title: Title loan business, regulation and licensure, charges, fines, penalties, Alabama Title Pledge Act
Description: This bill would provide for the Alabama Title Pledge Act to license and regulate the title loan business; would provide or charges, interest, and fees for loans; and to provide for the enforcement of the act by fines and criminal penalties.
Amendment 621 of the Constitution of Alabama of 1901, now appearing as Section 111.05 of the Official Recompilation of the Constitution of Alabama of 1901, as amended, prohibits a general law whose purpose or effect would be to require a new or increased expenditure of local funds from becoming effective with regard to a local governmental entity without enactment by a 2/3 vote unless: it comes within one of a number of specified exceptions; it is approved by the affected entity; or the Legislature appropriates funds, or provides a local source of revenue, to the entity for the purpose.
The purpose or effect of this bill would be to require a new or increased expenditure of local funds within the meaning of the amendment. However, the bill does not require approval of a local governmental entity or enactment by a 2/3 vote to become effective because it comes within one of the specified exceptions contained in the amendment.
Subjects: Licenses and Licensing

Read for the first time and referred to the House of Representatives committee on Financial Services