SB 464 IN

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Became Law

Provides that a reference to federal law in: (1) the First Lien Mortgage Lending Act; (2) the Uniform Consumer Credit Code (UCCC); or (3) the Indiana Code title governing financial institutions; is a reference to the law as in effect December 31, 2024 (rather than December 31, 2023, under current law). Amends the definition of "principal" for purposes of the UCCC provisions governing consumer loans to specify that the term does not include any loan proceeds held as security for the loan. Makes a technical change to the Indiana Code provision governing the prepayment of consumer loans to incorporate a cross reference to the Indiana Code provision setting forth the authorized nonrefundable prepaid finance charge for supervised loans. (Current law references only the authorized nonrefundable prepaid finance charge for consumer loans other than supervised loans.) Amends the definition of "consumer transaction" for purposes of the deceptive consumer sales act (act) to include the provision of a product or service to a: (1) state law enforcement agency; or (2) local law enforcement agency; in Indiana. Amends the definition of "supplier" for purposes of the act to include an entity that provides a product or service to a state or local law enforcement agency in Indiana. Provides that an action that arises from a transaction involving: (1) a state law enforcement agency may be brought and enforced only by the attorney general; and (2) a local law enforcement agency may be brought and enforced only by an attorney acting on behalf of the local law enforcement agency involved in the transaction, unless the local unit of government served by the local law enforcement agency requests the attorney general to bring and enforce an action on behalf of the local unit. Amends the Indiana Code provision governing audit requirements for credit unions to provide that department of financial institutions may establish by policy or rule accounting and auditing standards necessary to define the audit requirements.

• Eric Bassler Republican · author
• Scott Baldwin Republican · author
• Mike Gaskill Republican · author
• Jake Teshka Republican · sponsor

1. Jan 13, 2025 Authored by Senator Bassler · upper
2. Jan 13, 2025 First reading: referred to Committee on Insurance and Financial Institutions · upper
3. Jan 23, 2025 Senator Gaskill added as third author · upper
4. Jan 23, 2025 Senator Baldwin added as second author · upper
5. Jan 23, 2025 Committee report: do pass, adopted · upper
6. Jan 27, 2025 Second reading: ordered engrossed · upper
7. Jan 30, 2025 House sponsor: Representative Teshka · upper
8. Jan 31, 2025 Referred to the House · upper
9. Jan 30, 2025 Third reading: passed; Roll Call 44: yeas 48, nays 0 · upper
10. Mar 3, 2025 First reading: referred to Committee on Financial Institutions · lower
11. Mar 20, 2025 Representative Andrade added as cosponsor · lower
12. Mar 20, 2025 Committee report: amend do pass, adopted · lower
13. Mar 24, 2025 Second reading: ordered engrossed · lower
14. Mar 25, 2025 Third reading: passed; Roll Call 314: yeas 92, nays 3 · lower
15. Mar 26, 2025 Returned to the Senate with amendments · lower
16. Apr 8, 2025 Senate dissented from House amendments · upper
17. Apr 8, 2025 Motion to dissent filed · upper
18. Apr 10, 2025 Senate advisors appointed: Randolph Lonnie M, Baldwin and Gaskill · upper
19. Apr 10, 2025 House conferees appointed: Teshka and Andrade · lower
20. Apr 10, 2025 House advisors appointed: Lehman, Pierce K and Dant Chesser · lower
21. Apr 10, 2025 Senate conferees appointed: Bassler and Qaddoura · upper
22. Apr 22, 2025 CCR # 1 filed in the House · lower
23. Apr 22, 2025 CCR # 1 filed in the Senate · upper
24. Apr 23, 2025 Rules Suspended. Conference Committee Report 1: adopted by the House; Roll Call 527: yeas 91, nays 0 · lower
25. Apr 24, 2025 Rules Suspended. Conference Committee Report 2: adopted by the Senate; Roll Call 520: yeas 48, nays 1 · upper
26. Apr 29, 2025 Signed by the President of the Senate · upper
27. May 6, 2025 Signed by the Governor · executive
28. May 6, 2025 Public Law 206 · upper
29. Apr 24, 2025 Rules Suspended. Conference Committee Report 2: adopted by the House; Roll Call 562: yeas 85, nays 0 · lower
30. Apr 24, 2025 Signed by the President Pro Tempore · upper
31. Apr 25, 2025 Signed by the Speaker · lower
32. Apr 24, 2025 CCR # 2 filed in the House · lower
33. Apr 24, 2025 Motion to Rescind CCR #1: adopted voice vote · lower
34. Apr 24, 2025 Motion to withdraw CCR #1: prevailed · upper
35. Apr 24, 2025 CCR # 2 filed in the Senate · upper