MichiganVotes.org: Michigan Laws, Bills and Votes
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using concise, plain and objective descriptions
Legislation watch
2019 Senate Bill 369: Increase allowable pawnbroker interest rate
Introduced by Sen. Peter Lucido R-ShelbyTownship on June 12, 2019
To increase the maximum interest rate a pawnbroker may charge on merchandise-backed loans from 3 percent per month to 4 percent per month. Official Text and Analysis.
Referred to the Senate Regulatory Reform Committee on June 12, 2019
Reported in the Senate on October 30, 2019
With the recommendation that the bill pass.
Received in the House on November 20, 2019
Referred to the House Regulatory Reform Committee on November 20, 2019
Reported in the House on June 3, 2020
Refer to the Committee on Ways and Means.
Referred to the House Ways and Means Committee on June 3, 2020
Reported in the House on June 17, 2020
Without amendment and with the recommendation that the bill pass.
Vetoed by Gov. Gretchen Whitmer on December 30, 2020