Iowa HF 878: A bill for an act requiring school districts and accredited nonpublic schools to offer and teach in grades nine through twelve one unit of the history of refugee migration in and to the United States.

Bill Text

House
File
878
-
Introduced

HOUSE
FILE
878

BY
COMMITTEE
ON
COMMERCE

(SUCCESSOR
TO
HF
627)

A
BILL
FOR

An
Act
relating
to
annual
percentage
rates
for
delayed
deposit
1

service
transactions.
2

BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3

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H.F.
878

Section
1.
NEW
SECTION
.
533D.9A
Annual
percentage
rate
1

restriction.
2

1.
Notwithstanding
subsection
3,
a
licensee
shall
not
3

impose
an
annual
percentage
rate
greater
than
thirty-six
4

percent
in
connection
with
a
delayed
deposit
service
5

transaction.
6

2.
A
delayed
deposit
service
transaction
made
in
violation
7

of
this
section
shall
be
void,
and
the
licensee
making
the
8

delayed
deposit
service
transaction
shall
not
collect,
receive,
9

or
retain
any
principal,
interest,
fees,
or
other
charges
in
10

connection
with
the
delayed
deposit
service
transaction.
11

3.
A
licensee
shall
not
impose
on
an
individual
on
active
12

military
duty,
or
their
spouse
or
dependents,
an
annual
13

percentage
rate
greater
than
the
rates
allowed
under
10
U.S.C.
14

§987
in
connection
with
a
delayed
deposit
service
transaction.
15

EXPLANATION
16

The
inclusion
of
this
explanation
does
not
constitute
agreement
with
17

the
explanation’s
substance
by
the
members
of
the
general
assembly.
18

This
bill
relates
to
annual
percentage
rates
for
delayed
19

deposit
service
transactions.
20

Under
the
bill,
a
person
licensed
under
Code
chapter
533D
21

(licensee)
shall
not
impose
an
annual
percentage
rate
greater
22

than
36
percent
in
connection
with
a
delayed
deposit
service
23

transaction.
A
delayed
deposit
service
transaction
made
in
24

violation
of
the
bill
shall
be
void,
and
the
licensee
shall
not
25

collect,
receive,
or
retain
any
principal,
interest,
fees,
or
26

other
charges
in
connection
with
the
delayed
deposit
service
27

transaction.

28

For
an
individual
on
active
military
duty,
or
their
spouse
29

or
dependent,
a
licensee
shall
not
impose
an
annual
percentage
30

rate
greater
than
allowable
under
10
U.S.C.
§987
in
connection
31

with
a
delayed
deposit
service
transaction.
32

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