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

Bill Has Failed

History

DateAction
01/14/2015Committee
01/14/2015Presented and ordered printed 15103100D
01/14/2015Referred to Committee on Commerce and Labor
01/21/2015Impact statement from SCC (HB2191)
01/27/2015Tabled in Commerce and Labor