Senate Passes S.B. 398, Amends S.B. 415 to Help Fund PEIA


The Senate convened today at 11 a.m. 

S. B. 398 adjusts the limits on consumer loans. Now, loans of $3,500 or less can be charged an interest maximum of 31 percent, loans between $3,500-$15,000 can be charged interest up to 27 percent, and loans more that $15,000 can be charged an interest of up to 18 percent. It was passed 23-11 and sent to the House for further consideration.

S. B. 47, S. B. 87S. B. 339 and S. B. 444 were all passed unanimously.

Bills on Second Reading:

S. B. 415 was amended on the floor. Now, the excess funds in the State Lottery Fund will be depositied into the Public Employees Insurance Agency Financial Stability Fund. The amendment was adopted unanimously.

Bills on First Reading:

The Senate adopted S.R. 45, congratulating Glen Chestnut as WV Outstanding Tree Farmer of 2018.

The Senate is adjourned until tomorrow at 11 a.m.

Committees meeting today:

Natural Resources at 1:20 p.m. 208W

Banking and Insurance at 2 p.m. 451M

Judiciary at 3 p.m. 208W

Finance at 3:30 p.m. 451M

Committees meeting tomorrow:

Transportation and Infrastructure at 10 a.m. 451M