Relating to student loan servicers; and declaring an emergency.
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SB 485 — Relating to student loan servicers; and declaring an emergency.
Last action — Effective date, July 27, 2021.
No card. One bill, free forever — alerts when it moves.
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✓Introduced
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✓In Committee
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✓Passed Senate
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✓Passed House
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✓To Executive
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6Enacted
This bill has been enacted into law. Introduced January 11, 2021. Enacted.
Prognosis
Where this bill stands today.
Odds of enactment
HighHow often bills like it became law.
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Enacted
Current position in the legislative process.
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19 sponsors
2 primary, 17 co-sponsors signed on.
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Single-party support
Sponsorship is currently within one party (7 D).
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Cleared a recorded vote
Passed 4 recorded votes so far.
Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.
Summary
Requires certain persons that service student loans in this state to obtain or renew license. Specifies license application and renewal procedures, required fees and persons that are exempt from requirement. Prescribes duties of licensee and requires licensee to maintain specified liquidity, operating reserves and tangible net worth. Prescribes civil penalty against person that engages in business as student loan servicer without license. Permits Director of Department of Consumer and Business Services to participate in multistate examinations under specified circumstances. Becomes operative on July 1, 2022. Declares emergency, effective on passage.
Bill Text
We don't have the full text on file for this bill yet.
Read SB 485 on the official Oregon source →Action History
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Effective date, July 27, 2021.
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Chapter 651, 2021 Laws.
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Governor signed.
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Speaker signed.
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President signed.
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Rules suspended. Third reading. Carried by Power. Passed.
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Second reading.
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Recommendation: Do pass.
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Vote explanation(s) filed by Heard.
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Referred to Ways and Means.
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Rules suspended. First reading. Referred to Speaker's desk.
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Rules suspended. Third reading. Carried by Taylor. Passed.
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Second reading.
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Recommendation: Do pass with amendments. (Printed A-Eng.)
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Work Session held.
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Work Session held.
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Returned to Full Committee.
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Assigned to Subcommittee On Transportation and Economic Development.
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Referred to Ways and Means by order of the President.
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Recommendation: Do Pass and be referred to Ways and Means.
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Work Session held.
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Public Hearing held.
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Referred to Labor and Business.
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Introduction and first reading. Referred to President's desk.
Sponsors
- Kathleen Taylor · Primary
- Julie Fahey · Cosponsor
- Dacia Grayber · Cosponsor
- Mark Meek · Cosponsor
- Janeen Sollman · Cosponsor
- Andrea Valderrama · Cosponsor
- Pam Marsh · Cosponsor
- Jason Kropf · Cosponsor
- Lisa Reynolds · Cosponsor
- Wlnsvey Campos · Cosponsor
- Anna Williams · Cosponsor
- Brian Clem · Cosponsor
- Courtney Neron · Cosponsor
- Teresa Alonso Leon · Cosponsor
- Barbara Smith Warner · Cosponsor
- Jack Zika · Cosponsor
- Rachel Prusak · Cosponsor
- Tim Knopp · Cosponsor
- Karin Power · Primary
Sponsorship breakdown
Export CSV (upgrade) →2 sponsors · 17 co-sponsors · 71 not signed on · 9 voted No
Sponsors (2)
- Kathleen Taylor Democrat
- Karin Power
Co-sponsors (17)
- Julie Fahey Democrat
- Dacia Grayber
- Mark Meek Democrat
- Janeen Sollman Democrat
- Andrea Valderrama
- Pam Marsh Democrat
- Jason Kropf
- Lisa Reynolds Democrat
- Wlnsvey Campos Democrat
- Anna Williams
- Brian Clem
- Courtney Neron
- Teresa Alonso Leon
- Barbara Smith Warner
- Jack Zika
- Rachel Prusak
- Tim Knopp
Not signed on (71)
71 members have not signed on to this bill.
Show all 71 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Votes
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Democrat | 20 | 0 | 0 | 1 |
| Unaffiliated | 21 | 0 | 0 | 3 |
| Republican | 12 | 2 | 0 | 0 |
| Total | 53 | 2 | 0 | 4 |
| % of votes cast | 90% | 3% | 0% | 7% |
How each member voted (59)
| Member | Party | Vote |
|---|---|---|
| Lily Morgan | — | Not Voting |
| Andrea Salinas | — | Yea |
| Anna Williams | — | Yea |
| Barbara Smith Warner | — | Yea |
| Bill Post | — | Yea |
| Brad Witt | — | Yea |
| Brian Clem | — | Yea |
| Courtney Neron | — | Yea |
| Dan Rayfield | — | Yea |
| Duane Stark | — | Yea |
| Gary Leif | — | Yea |
| Jack Zika | — | Yea |
| Janelle Bynum | — | Yea |
| Jeff Reardon | — | Yea |
| Karin Power | — | Yea |
| Marty Wilde | — | Not Voting |
| Maxine Dexter | — | Not Voting |
| Paul Holvey | — | Yea |
| Rachel Prusak | — | Yea |
| Raquel Moore-Green | — | Yea |
| Ron Noble | — | Yea |
| Sheri Schouten | — | Yea |
| Teresa Alonso Leon | — | Yea |
| Tina Kotek | — | Yea |
| Andrea Valderrama | Democrat | Yea |
| Dacia Grayber | Democrat | Yea |
| David Gomberg | Democrat | Yea |
| Janeen Sollman | Democrat | Yea |
| Jason Kropf | Democrat | Yea |
| John Lively | Democrat | Yea |
| Julie Fahey | Democrat | Yea |
| Ken Helm | Democrat | Yea |
| Khanh Pham | Democrat | Yea |
| Lisa Reynolds | Democrat | Yea |
| Mark Meek | Democrat | Yea |
| Nancy Nathanson | Democrat | Yea |
| Pam Marsh | Democrat | Yea |
| Paul Evans | Democrat | Yea |
| Ricki Ruiz | Democrat | Yea |
| Rob Nosse | Democrat | Yea |
| Sue Rieke Smith | Democrat | Not Voting |
| Susan McLain | Democrat | Yea |
| Tawna Sanchez | Democrat | Yea |
| Wlnsvey Campos | Democrat | Yea |
| Zach Hudson | Democrat | Yea |
| Bobby Levy | Republican | Yea |
| Boomer Wright | Republican | Yea |
| Cedric Hayden | Republican | Yea |
| Christine Drazan | Republican | Yea |
| Daniel Bonham | Republican | Yea |
| David Brock Smith | Republican | Yea |
| E. Werner Reschke | Republican | Nay |
| Jami Cate | Republican | Nay |
| Kim Wallan | Republican | Yea |
| Mark Owens | Republican | Yea |
| Rick Lewis | Republican | Yea |
| Shelly Boshart Davis | Republican | Yea |
| Suzanne Weber | Republican | Yea |
| Vikki Breese-Iverson | Republican | Yea |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 11 | 4 | 0 | 0 |
| Democrat | 10 | 0 | 0 | 1 |
| Republican | 1 | 3 | 0 | 0 |
| Total | 22 | 7 | 0 | 1 |
| % of votes cast | 73% | 23% | 0% | 3% |
How each member voted (30)
| Member | Party | Vote |
|---|---|---|
| Betsy Johnson | — | Yea |
| Bill Hansell | — | Yea |
| Bill Kennemer | — | Yea |
| Brian Boquist | — | Nay |
| Chuck Riley | — | Yea |
| Chuck Thomsen | — | Nay |
| Dallas Heard | — | Nay |
| Dennis Linthicum | — | Nay |
| Elizabeth Steiner Hayward | — | Yea |
| Ginny Burdick | — | Yea |
| Lee Beyer | — | Yea |
| Lynn Findley | — | Yea |
| Michael Dembrow | — | Yea |
| Peter Courtney | — | Yea |
| Tim Knopp | — | Yea |
| Chris Gorsek | Democrat | Yea |
| Deb Patterson | Democrat | Yea |
| Floyd Prozanski | Democrat | Yea |
| James Manning Jr. | Democrat | Not Voting |
| Jeff Golden | Democrat | Yea |
| Kate Lieber | Democrat | Yea |
| Kathleen Taylor | Democrat | Yea |
| Kayse Jama | Democrat | Yea |
| Lew Frederick | Democrat | Yea |
| Rob Wagner | Democrat | Yea |
| Sara Gelser Blouin | Democrat | Yea |
| Dick Anderson | Republican | Yea |
| Fred Girod | Republican | Nay |
| Kim Thatcher | Republican | Nay |
| Noah Robinson | Republican | Nay |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Democrat | 20 | 0 | 0 | 2 |
| Unaffiliated | 18 | 0 | 0 | 0 |
| Republican | 4 | 2 | 0 | 0 |
| Total | 42 | 2 | 0 | 2 |
| % of votes cast | 91% | 4% | 0% | 4% |
How each member voted (46)
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 3 | 0 | 0 | 0 |
| Democrat | 2 | 0 | 0 | 0 |
| Total | 5 | 0 | 0 | 0 |
| % of votes cast | 100% | 0% | 0% | 0% |
How each member voted (5)
| Member | Party | Vote |
|---|---|---|
| Bill Hansell | — | Yea |
| Bill Kennemer | — | Yea |
| Chuck Riley | — | Yea |
| Kate Lieber | Democrat | Yea |
| Kayse Jama | Democrat | Yea |
Subjects
Frequently asked questions
- What does SB 485 do?
- Requires certain persons that service student loans in this state to obtain or renew license. Specifies license application and renewal procedures, required fees and persons that are exempt from requirement. Prescribes duties of licensee and requires licensee to maintain specified liquidity, operating reserves and tangible net worth. Prescribes civil penalty against person that engages in business as student loan servicer without license. Permits Director of Department of Consumer and Business Services to participate in multistate examinations under specified circumstances. Becomes operative on July 1, 2022. Declares emergency, effective on passage.
- Who sponsors SB 485?
- SB 485 is sponsored by Kathleen Taylor (Democrat), Julie Fahey (Democrat), Dacia Grayber, Mark Meek (Democrat), Janeen Sollman (Democrat), Andrea Valderrama, Pam Marsh (Democrat), Jason Kropf, Lisa Reynolds (Democrat), Wlnsvey Campos (Democrat), Anna Williams, Brian Clem, Courtney Neron, Teresa Alonso Leon, Barbara Smith Warner, Jack Zika, Rachel Prusak, Tim Knopp, and Karin Power.
- What is the current status of SB 485?
- This bill has been enacted into law. Introduced January 11, 2021. Enacted.
- Where can I track SB 485?
- Track SB 485 free on One Click Politics — get push/email alerts when it moves.
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