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Key Votes

S 1314 - Amends the Provisions of Payday Loans - Key Vote

Idaho Key Votes

Butch Otter signed this Legislation.

Read statements Butch Otter made in this general time period.

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Stage Details

Legislation - Signed (Executive) -

Title: Amends the Provisions of Payday Loans

Legislation - Bill Passed (House) (35-34) - (Key vote)

Title: Amends the Provisions of Payday Loans

Vote Smart's Synopsis:

Vote to pass a bill that amends the provisions of payday loans

Highlights:
  • Requires a payday lender to enter into an extended payment plan upon the request of the borrower to enter into an extended payment plan (Sec. 4).
  • Authorizes a borrower to enter into 1 extended payment plan for a payday loan during a consecutive 12 month period with the following extended payment plan provisions (Sec. 4):
    • The plan is executed prior to the date that the payday loan is due;
    • The plan allows for at least 4 equal payments over a time period of at least 60 days;
    • The plan does not increase the borrower’s obligations from the original payday loan; and
    • The payday lender does not charge interest or include additional fees as part of the plan.   
  • Prohibits a payday lender from making a payday loan that exceeds 25 percent of a borrower’s gross monthly income (Sec. 3).
  • Requires a payday lender to obtain income information from a borrower at least once every 12 months (Sec. 3).
  • Prohibits a payday lender from attempting to deposit a borrower’s check more than 2 times (Sec. 2).
Legislation - Bill Passed (Senate) (21-13) - (Key vote)

Title: Amends the Provisions of Payday Loans

Vote Smart's Synopsis:

Vote to pass a bill that amends the provisions of payday loans

Highlights:
  • Requires a payday lender to enter into an extended payment plan upon the request of the borrower to enter into an extended payment plan (Sec. 4).
  • Authorizes a borrower to enter into 1 extended payment plan for a payday loan during a consecutive 12 month period with the following extended payment plan provisions (Sec. 4):
    • The plan is executed prior to the date that the payday loan is due;
    • The plan allows for at least 4 equal payments over a time period of at least 60 days;
    • The plan does not increase the borrower’s obligations from the original payday loan; and
    • The payday lender does not charge interest or include additional fees as part of the plan.   
  • Prohibits a payday lender from making a payday loan that exceeds 25 percent of a borrower’s gross monthly income (Sec. 3).
  • Requires a payday lender to obtain income information from a borrower at least once every 12 months (Sec. 3).
  • Prohibits a payday lender from attempting to deposit a borrower’s check more than 2 times (Sec. 2).
Legislation - Introduced (Senate) -

Title: Amends the Provisions of Payday Loans

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