NOTE: The governor vetoed this measure on 6/4/2015.
      
      
      HOUSE BILL 15-1390
      
      
      BY REPRESENTATIVE(S) Melton and Tate, Nordberg, Fields;
      also SENATOR(S) Holbert and Jahn.
      
      
      Concerning an increase in the allowable finance charge for
           certain consumer credit transactions.
       
      
      Be it enacted by the General Assembly of the State of Colorado:
      
           SECTION 1.  In Colorado Revised Statutes, 5-2-201, amend (2) (a)
      as follows:
      
           5-2-201.  Finance charge for consumer credit transactions.
      (2)  With respect to a supervised loan or a consumer credit sale, except for
      a loan or sale pursuant to a revolving account, a supervised lender or seller
      may contract for and receive a finance charge, calculated according to the
      actuarial method, not exceeding the equivalent of the greater of either of
      the following:
      
           (a)  The total of:
      
           (I)  Thirty-six percent per year on that part of the unpaid balances of
      the amount financed that is one three thousand dollars or less;
      
           (II)  Twenty-one percent per year on that part of the unpaid balances
      of the amount financed that is more than one three thousand dollars but
      does not exceed three five thousand dollars; and
      
           (III)  Fifteen percent per year on that part of the unpaid balances of
      the amount financed that is more than three five thousand dollars; or
      
           SECTION 2.  Safety clause. The general assembly hereby finds,
      determines, and declares that this act is necessary for the immediate
      preservation of the public peace, health, and safety.
      
      
      
      
      ________________________________________________________
      Dickey Lee Hullinghorst                Bill L. Cadman
      SPEAKER OF THE HOUSE                     PRESIDENT OF
      OF REPRESENTATIVES                         THE SENATE
      
      
      
      
      
      
      ____________________________  ____________________________
      Marilyn Eddins                      Cindi L. Markwell
      CHIEF CLERK OF THE HOUSE                 SECRETARY OF
      OF REPRESENTATIVES                         THE SENATE
      
      
      
      
                  APPROVED________________________________________
      
      
      
      
      
                                    _________________________________________
                                    John W. Hickenlooper
                                    GOVERNOR OF THE STATE OF COLORADO