1176 AMH KIRB MERE 414
HB 1176 - H AMD 167
By Representative Kirby
On page 2, beginning on line
36, after "to" strike all material through "$8.00" on line
37 and insert "(($54.99 - the sum of $8.00
)) $99.99 - fifteen percent of the loan amount"
On page 2, beginning on line 38, after "from"
strike all material through "$8.50" on line 39 and insert "(($55.00
to $59.99 - the sum of $8.50)) $100.00 to $249.99 - thirteen percent of
the loan amount"
On page 3, beginning on line 1, after "from"
strike all material through "$9.00" on line 2 and insert "(($60.00
to $64.99 - the sum of $9.00)) $250.00 to $499.99 - ten percent of the
loan amount"
On page 3, beginning on line 3, after "from"
strike all material through "$9.50" on line 4 and insert "(($65.00
to $69.99 - the sum of $9.50)) $500.00 to $999.99 - eight percent of the
loan amount"
On page 3, beginning on line 5, after "from"
strike all material through "$10.00" on line 6 and insert "(($70.00
to $74.99 - the sum of $10.00)) $1000.00 to $1499.99 - seven and
one-half percent of the loan amount"
On page 3, beginning on line 7, after "from"
strike all material through "$10.50" on line 8 and insert "(($75.00
to $79.99 - the sum of $10.50)) $1500.00 to $1999.99 - seven percent of
the loan amount"
On page 3, beginning on line 9, after "loaned"
strike all material through "$11.00" on line 10 and insert "((from
$80.00 to $84.99 - the sum of $11.00)) of $2000.00 or more - six percent
of the loan amount"
On page 3, line 11, beginning with "(r)" strike all material through "$12.50" on line 16 and insert the following:
"(((r) For the amount loaned from $85.00 to
$89.99 - the sum of $11.50.
(s) For the amount loaned from $90.00 to $94.99 - the
sum of $12.00.
(t) For the amount loaned from $95.00 to $99.99 - the
sum of $12.50. ))"
On page 5, beginning on line 8, after "$91.00))"
strike all material through "more." on line 9
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EFFECT: Replaces the 13% flat fee for loan amounts greater than $99.99 and incremental fee amounts for loans between $50.00 and $99.99 with fees determined by graduated percentages ranging from 15% of the loan amount for loans from $50.00 to $99.99 to 6% of the loan amount for loans of $2000.00 or more.
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