Passed One ChamberFiled Feb 3, 2026
Sponsor: Daniel Didech (D)
Latest Action
Rule 3-9(a) / Re-referred to Assignments
Jun 1, 2026
Summary
The bill amends the Debt Management Service Act, requiring applicants for a debt‑management license to post a $50,000 bond instead of $25,000. It also permits providers to charge a one‑time fee after initial counseling, but caps that fee at 15% of the monthly disbursement or a set dollar limit ($75 or $100 depending on the number of creditors). These changes aim to increase consumer protection and ensure providers have sufficient financial backing.
AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.
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