By Senator Nelson

NOT ADOPTED 3/10/2015

On page 41, after line 28, insert the following:

NEW SECTION.  Sec. 56.  "The Washington state institute for public policy shall conduct a study and report to the appropriate committees of the legislature by December 1, 2015, on the impact small consumer installment loans have on the economic stability of families in Washington. The study must address:

(1) How expanding small consumer installment loans into economically vulnerable communities impact the ability of community members to succeed;

(2) The rate at which communities of color utilize small consumer installment loans;

(3) How small consumer installment loans impact the cycle of poverty in the communities where the loans are available;

(4) The rate at which small consumer installment loans are repaid within the time frame provided in the loan agreement; and

(5) The geographic breakdown of the availability of small consumer installment loans."

Renumber the remaining sections consecutively and correct any internal references accordingly.

EFFECT: Requires a WSIPP study on the impacts of small consumer installment loans.