HB400 Alabama 2015 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2015
Title
Title loan business, regulation and licensure, charges, fines, penalties, Alabama Title Pledge Act
Description
<p class="bill_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</p><p class="bill_description">
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</p><p class="bill_description">
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</p><p class="bill_entitled_an_act"> To license and regulate the title loan business; to
provide definitions; to require licensure of title pledge
lenders and offices and to provide for charges, interest, and
fees concerning title pledge loans; to provide for fines,
penalties, and enforcement for violations; and in connection
therewith would have as its purpose or effect the requirement
of a new or increased expenditure of local funds within the
meaning of 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.
</p>
Subjects
Licenses and Licensing
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| April 2, 2015 | H | Read for the first time and referred to the House of Representatives committee on Financial Services |
Bill Calendar
| Type | Date | Location | Description |
|---|---|---|---|
| Hearing | May 20, 2015 | Room 428 at 09:00 | House FS Public Hearing |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB400 Alabama 2015 Session - Introduced |