Payday loan offices and motor vehicle title loan offices; distance from casino facility. (HB2191)
Introduced By
Del. Patrick Hope (D-Arlington) with support from co-patron Sen. Scott Surovell (D-Mount Vernon)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Payday loan offices and motor vehicle title loan offices; distance from casino facility or military installation. Prohibits the State Corporation Commission (SCC) from issuing a license for the operation of a payday lending office or motor vehicle title lending office if such office is within 10 miles of a casino facility or military installation. Casino facilities include Indian gaming operations conducted pursuant to the federal Indian Gaming Regulatory Act. The measure includes limitations on the SCC's authority to revoke or suspend an existing license when a violation of the 10-mile provision exists on July 1, 2015, or when a violation would be created by the opening of a casino facility or military installation after a license was issued. However, if such a licensed lending location is within 10 miles of an existing or future casino facility or military installation, the annual percentage rate that may be charged on loans made from such location is 36 percent. Read the Bill »
Outcome
History
Date | Action |
---|---|
01/14/2015 | Committee |
01/14/2015 | Presented and ordered printed 15103100D |
01/14/2015 | Referred to Committee on Commerce and Labor |
01/21/2015 | Impact statement from SCC (HB2191) |
01/27/2015 | Tabled in Commerce and Labor |