BILL · 2025–26 SESSION · LATEST VERSION SSB 6250

SB 6250: Small loans maximum amount

Concerning the maximum principal amount of small loans.

Summary

Increases the limit, from $700 to $1,200, of the maximum principal amount or total loan balance of small loans received by a borrower, subject to a specified cap on the borrower's gross monthly income.
Requires the Department of Financial Institutions to biennially adjust the limit based on changes in the Consumer Price Index for a specified area.

From the Senate Bill Report (SB 6250), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · stalled on the Senate floor

AN ACT Relating to the maximum principal amount of small loans;

No recorded floor votes.

Feb 26, 2026Senate Rules "X" file. (SSB 6250)
Feb 26, 2026Senate Rules "X" file.
Feb 4, 2026Passed to Rules Committee for second reading. (SSB 6250)
Feb 4, 2026BTE - Majority; 1st substitute bill be substituted, do pass. (SSB 6250)
Feb 4, 2026Minority; do not pass. (SSB 6250)
Feb 4, 2026Minority; do not pass.
Feb 4, 2026BTE - Majority; 1st substitute bill be substituted, do pass.
Feb 4, 2026Passed to Rules Committee for second reading.
Jan 21, 2026First reading, referred to Business, Trade & Economic Development.

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

SB 6250 (2023–24) Working families/prop. tax · Did not pass · died in committee
SB 6250 (2019–20) Nursing facilities · Did not pass · died in committee
SB 6250 (2017–18) Impaired driving/ten years · Did not pass · died in committee
SB 6250 (2015–16) Fire department employees · Did not pass · stalled on the Senate floor
SB 6250 (2013–14) Collective bargaining/copies · Did not pass · passed Senate, stalled in House
SB 6250 (2011–12) Leasehold interest · Did not pass · passed Senate, stalled in House
SB 6250 (2009–10) Fiscal reform · Did not pass · died in committee
SB 6250 (2007–08) Privacy of personal info · Did not pass · passed Senate, stalled in House