Consumer loans: residential real property rental payments.

Legislative status

1. Introduced
2. In Committee
3. Reported by Committee
4. Floor Vote Scheduled
5. Passed One Chamber
6. Passed Both Chambers
7. Sent to Executive
8. Signed into Law

Summary

The bill stops finance lenders, brokers, and program administrators from making consumer loans whose purpose is to cover rent obligations. It also creates a new “Rent Now Pay Later” category with limits on installment numbers, fees, disclosures, and advertising. The goal is to protect renters from costly short‑term financing and to prevent predatory practices.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Vote

Read third time. Passed. Ordered to the Senate. (Ayes 52. Noes 14. Page 5180.) · May 21, 2026

Hearings

• Banking and Financial Institutions Committee Hearing
  Banking and Financial Institutions · Jun 17, 2026
• Appropriations Committee Hearing
  Appropriations · May 6, 2026
• Banking and Finance Committee Hearing
  Banking and Finance · Apr 23, 2026
• Banking and Finance Committee Hearing
  Banking and Finance · Apr 6, 2026

History

1. Jun 3, 2026Referred to Coms. on B. & F.I. and JUD.
2. May 21, 2026Read third time. Passed. Ordered to the Senate. (Ayes 52. Noes 14. Page 5180.)
3. May 21, 2026In Senate. Read first time. To Com. on RLS. for assignment.
4. May 7, 2026Read second time. Ordered to third reading.
5. May 6, 2026From committee: Do pass. (Ayes 10. Noes 3.) (May 6).
6. Apr 29, 2026Re-referred to Com. on APPR.
7. Apr 28, 2026Read second time and amended.
8. Apr 27, 2026From committee: Amend, and do pass as amended and re-refer to Com. on APPR. (Ayes 7. Noes 0.) (April 23).
9. Apr 6, 2026Re-referred to Com. on B. & F.
10. Apr 6, 2026In committee: Hearing postponed by committee.
11. Mar 26, 2026From committee chair, with author's amendments: Amend, and re-refer to Com. on B. & F. Read second time and amended.
12. Mar 17, 2026Re-referred to Com. on B. & F.

The 12 most recent of 16 recorded actions.

Sponsors

• Tina McKinnor (D) · sponsor
• McKinnor

Bill text

Opens the legislature’s own copy.

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