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Senate Bill 145

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Legislative History
Last Action	03/24/25: signed by Governor (Acts Ch. 55)
Title	AN ACT relating to retail installment contracts.
Bill Documents	Acts Chapter 55 Current/Final Introduced
Bill Request Number	911
Sponsor	D. Givens
Summary of Enacted Version	Amends KRS 190.100 to authorize holders of retail installment contracts that utilize installment periods that are under 28 days to have a shorter waiting period prior to charging a delinquency and collection fee; and amends KRS 371.270 to increase the flat rate penalty for delinquency to $15 and eliminate further requirements.
Summary of Original Version	Amend KRS 190.100 to authorize holders of retail installment contracts that utilize installment periods that are under 28 days to have a shorter waiting period prior to charging a delinquency and collection fee.
Index Headings of Original Version	Loans and Credit - Retail installment contract, delinquency and collection charge Sales - Retail installment contract, delinquency and collection charge Trade Practices and Retailing - Retail installment contract, delinquency and collection charge Consumer Affairs - Retail installment contract, delinquency and collection charge Contracts - Retail installment, delinquency and collection charge
Jump to Proposed Amendments	Senate Committee Substitute 1
Votes	Vote History

Actions

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02/12/25	introduced in Senate to Committee on Committees (S)
02/14/25	to Transportation (S)
02/19/25	taken from Transportation (S) reassigned to Banking & Insurance (S)
02/25/25	reported favorably, 1st reading, to Calendar with Committee Substitute (1)
02/26/25	2nd reading, to Rules posted for passage in the Regular Orders of the Day for Thursday, February 27, 2025
02/27/25	3rd reading, passed 34-0 with Committee Substitute (1)
02/28/25	received in House to Committee on Committees (H)
03/07/25	to Banking & Insurance (H)
03/12/25	reported favorably, 1st reading, to Calendar
03/13/25	2nd reading, to Rules
03/14/25	taken from Rules placed in the Orders of the Day 3rd reading, passed 79-6 received in Senate enrolled, signed by President of the Senate enrolled, signed by Speaker of the House delivered to Governor
03/24/25	signed by Governor (Acts Ch. 55)

Proposed Amendments

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Amendment	Senate Committee Substitute 1
Summary	Retain original provisions; amend KRS 371.270 to increase flat rate penalty for delinquency from $10 to $15 and eliminate further requirements.
Index Headings	Consumer Affairs - Retail installment contract, delinquency and collection charge Contracts - Retail installment, delinquency and collection charge Loans and Credit - Retail installment contract, delinquency and collection charge Sales - Retail installment contract, delinquency and collection charge Trade Practices and Retailing - Retail installment contract, delinquency and collection charge

Last updated: 7/24/2025 3:26 PM (EDT)