The Iowa temporary credit effort had not been to the ballot in Kansas as an initiated constitutional amendment on December 5, 2019.
The gauge possess topped interest levels on temporary debts, like payday loans, to 28 per cent per year and reduce rates to $20 per month. The determine could possibly have likewise necessary that payday loan financial institutions get approved with the condition.
The measure possess extra a brand new segment 14 to report XV associated with the Kansas Constitution. The whole book regarding the gauge can be found here.
Referendum 5 (2008)
In 2008, voters recognized Referendum 5, maintaining a statement to cover passion costs on temporary lending products to 28 per cent each year.