AN ACT relating to interest on medical debt.

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Now law

This is now an official law, recorded in the state's law books.

Stage 6 of 6Signature

2
Sponsors: 0
Votes: Jan 14
Last action

The governor signed it. Nothing left to watch.

Official text

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In plain words

AI summary

Written by AI from the bill text. Check the official text before relying on it.

Description

Create a new section of KRS Chapter 360 to define "medical debt"; establish a maximum interest rate of 3% on medical debt; amend KRS 360.020 to expand the civil penalty for excessive interest on medical debt; amend KRS 360.040 to establish a maximum interest rate of 3% on judgments rendered in an action to collect medical debt; make technical amendments; amend KRS 216B.250 to conform.

Subjects

Financial ResponsibilityConsumer ProtectionLoans, Credit, Interest, And UsuryTrade Practices And RetailingHealth And Medical ServicesLocal MandateCivil Actions

Progress

Committee said yesFeb 20, 2025
PassedFeb 26, 2025
Committee said yesMar 11, 2025
Passed both chambersMar 14, 2025
Passed both chambersMar 14, 2025
Became lawMar 24, 2025
Became lawMar 24, 2025
IntroducedJan 7, 2026
Sent to committeeJan 7, 2026

From official state and federal legislative records. Informational only, not legal advice.