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June 4, 2024 HB 24-1148
Legislative Council Staff
Nonpartisan Services for Colorado’s Legislature
Final Fiscal Note
Drafting Number:
Prime Sponsors:
LLS 24-0731
Rep. Weissman; Mabrey
Sen. Gonzales
Date:
Bill Status:
Fiscal Analyst:
June 4, 2024
Postponed Indefinitely
Clayton Mayfield | 303-866-5851
clayton.mayfield@coleg.gov
Bill Topic: AMENDING TERMS OF CONSUMER LENDING LAWS
Summary of
Fiscal Impact:
No fiscal impact. The bill would have clarified that limits on finance charges
authorized by current law also apply to nondepository institutions. It was assessed as
having no fiscal impact on state and local governments.
Appropriation
Summary:
No appropriation was required.
Fiscal Note
Status:
The final fiscal note reflects the introduced bill. This bill was postponed indefinitely by
the Senate Finance Committee on May 6, 2024; therefore, the impacts identified in this
analysis do not take effect.
Summary of Legislation
The bill clarifies that limits on finance charges for certain consumer credit products authorized
by current law also apply to the same products offered by nondepository institutions.
Assessment of No Fiscal Impact
The bill establishes limits on finance charges for products offered by nondepository institutions
that align with current provisions of the Uniform Consumer Credit Code. No change to state or
local government workload, revenue or expenditures is expected. For this reason, the bill is
assessed as having no fiscal impact.
Effective Date
The bill takes effect 90 days following adjournment of the General Assembly sine die, assuming
no referendum petition is filed.
State and Local Government Contacts
Judicial Law Regulatory Agencies
The revenue and expenditure impacts in this fiscal note represent changes from current law under the bill for each
fiscal year. For additional information about fiscal notes, please visit the General Assembly website.