BILL · 2005–06 SESSION

SB 5485: Small loan limits

Placing limits on the amount, interest, and fees for small loans.

Summary

The maximum amount of loans from a payday lender for a single borrower at any one time is reduced from seven hundred to 500 dollars, and the fee is reduced from a 15 percent of the first 500 dollars, to a flat maximum of 10 percent of principal.

From the Senate Bill Report (SB 5485), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · died in committee

AN ACT Relating to the limits on the amount, interest, and fees for small loans;

No recorded floor votes. This measure never reached a floor vote.

Jan 9, 2006By resolution, reintroduced and retained in present status.
Jan 26, 2005First reading, referred to Financial Institutions, Housing & Consumer Protection.

Bill numbers restart every two years, so the same number is a different bill in each session.

SB 5485 (2025–26) Livestock identification · Enacted · Chapter 287, Laws of 2025
SB 5485 (2023–24) Public employees/child care · Did not pass · died in committee
SB 5485 (2021–22) Traffic stops · Did not pass · died in committee
SB 5485 (2019–20) Music therapists · Did not pass · passed Senate, stalled in House
SB 5485 (2017–18) Data on hunger · Did not pass · died in committee
SB 5485 (2015–16) Debt adjusters · Did not pass · passed Senate, stalled in House
SB 5485 (2013–14) Firearms unauthorized access · Did not pass · died in committee
SB 5485 (2011–12) State's natural resources · Enacted · Chapter 341, Laws of 2011