California 2011-2012 Regular Session Status: Enacted

AB 2476 — Service member obligations or liabilities: rate of interest.

Last action — Chaptered by Secretary of State - Chapter 101, Statutes of 2012.

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Assembly
  4. ✓
    Passed Senate
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced February 24, 2012. Enacted.

Prognosis

Likely to advance 70% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Cleared a recorded vote

    Passed 5 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

Existing law provides certain legal rights for service members, including with regard to credit agreements, interest liabilities, and mortgages and trusts. Existing law prohibits an obligation or liability bearing interest at a rate in excess of 6% per year incurred by a service member before that person's entry into service from bearing interest at a rate in excess of 6% per year during any part of the period of military service, except as prescribed. Existing law provides that a person who violates this rate of interest provision is liable for actual damages, reasonable attorney's fees, and costs incurred by an injured party. This bill would, in addition, recast these provisions to prohibit an obligation or liability consisting of a mortgage, trust deed, or other security in the nature of a mortgage, that is bearing interest at a rate in excess of 6% per year and incurred by a service member before that person's entry into service from bearing interest in excess of 6% per year for one year after any part of the period of military service.

Bill Text

Action History

  1. Chaptered by Secretary of State - Chapter 101, Statutes of 2012.

  2. Approved by the Governor.

  3. Enrolled and presented to the Governor at 11:30 a.m.

  4. In Assembly. Ordered to Engrossing and Enrolling.

  5. Read third time. Passed. Ordered to the Assembly. (Ayes 36. Noes 0. Page 4181.).

  6. Read second time. Ordered to consent calendar.

  7. From committee: Do pass. To consent calendar. (Ayes 5. Noes 0.) (June 19).

  8. Referred to Com. on JUD.

  9. In Senate. Read first time. To Com. on RLS. for assignment.

  10. Read third time. Passed. Ordered to the Senate. (Ayes 76. Noes 0. Page 4830.)

  11. Read second time. Ordered to consent calendar.

  12. From committee: Do pass. To consent calendar. (Ayes 10. Noes 0.) (May 8).

  13. From committee: Do pass and re-refer to Com. on JUD. (Ayes 8. Noes 0.) (April 10). Re-referred to Com. on JUD.

  14. Referred to Coms. on V.A. and JUD.

  15. Read first time.

  16. From printer. May be heard in committee March 27.

  17. Introduced. To print.

Sponsors

  • Committee on Veterans Affairs · Primary

Sponsorship breakdown

Export CSV (upgrade) →

1 sponsors · 0 co-sponsors · 121 not signed on

Sponsors (1)

  • Committee on Veterans Affairs

Co-sponsors (0)

None.

Not signed on (121)

121 members have not signed on to this bill.

Show all 121 →

"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.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Consent Calendar 2nd AB2476 Committee on V. A.

Passed 36 Yea · 0 Nay · 4 Other
Party YeaNayPresentNot Voting
Unaffiliated 33004
Republican 1000
Democratic 2000
Total 36004
% of votes cast 90%0%0%10%
How each member voted (40)
Member Party Vote
Yee — Yea
Fuller — Yea
Lowenthal — Yea
Hancock — Not Voting
Negrete McLeod — Yea
Harman — Yea
Rubio — Yea
Huff — Yea
De León — Not Voting
Runner — Not Voting
Kehoe — Yea
Anderson — Yea
Dutton — Yea
Leno — Yea
Liu — Yea
Price — Yea
Simitian — Yea
Steinberg — Yea
Vargas — Yea
Walters — Yea
Wright — Yea
Alquist — Yea
Blakeslee — Yea
Hernandez — Not Voting
Lieu — Yea
Pavley — Yea
Wolk — Yea
Cannella — Yea
Wyland — Yea
Corbett — Yea
Emmerson — Yea
Correa — Yea
Evans — Yea
DeSaulnier — Yea
Beth Gaines — Yea
Bill Berryhill — Yea
La Malfa — Yea
Calderon, Lisa Democratic Yea
Padilla, Stephen C. Democratic Yea
Strickland, Tony Republican Yea

Official roll call →

AB 2476 V. A. Consent Calendar Second Day

Passed 76 Yea · 0 Nay · 4 Other
Party YeaNayPresentNot Voting
Unaffiliated 73004
Republican 2000
Democratic 1000
Total 76004
% of votes cast 95%0%0%5%
How each member voted (80)
Member Party Vote
Gorell — Yea
Hall — Yea
Fuentes — Yea
Butler — Yea
Furutani — Yea
Gatto — Yea
Fong — Yea
Carter — Yea
Allen — Yea
Hagman — Yea
Harkey — Yea
Cedillo — Yea
Portantino — Yea
John A. Pérez — Yea
Mitchell — Yea
Hill — Yea
Alejo — Yea
Blumenfield — Yea
Conway — Yea
Cook — Yea
Davis — Yea
Hueso — Yea
Huffman — Yea
Knight — Yea
Nestande — Yea
Olsen — Yea
Skinner — Yea
Smyth — Yea
Swanson — Yea
Wagner — Yea
Williams — Yea
Yamada — Yea
Bonilla — Yea
Gordon — Yea
Atkins — Not Voting
Fletcher — Not Voting
Halderman — Yea
Hayashi — Yea
Jeffries — Yea
Lara — Yea
Miller — Yea
Campos — Yea
Chesbro — Yea
Donnelly — Yea
Monning — Yea
Morrell — Yea
Norby — Yea
Pan — Yea
Perea — Not Voting
Solorio — Yea
Torres — Yea
Valadao — Not Voting
Achadjian — Yea
Ammiano — Yea
Beall — Yea
Block — Yea
Bradford — Yea
Brownley — Yea
Buchanan — Yea
Huber — Yea
Logue — Yea
Ma — Yea
Mansoor — Yea
Mendoza — Yea
Nielsen — Yea
Silva — Yea
Wieckowski — Yea
Eng — Yea
Feuer — Yea
Dickinson — Yea
Galgiani — Yea
Garrick — Yea
Beth Gaines — Yea
Bill Berryhill — Yea
Bonnie Lowenthal — Yea
Roger Hernández — Yea
V. Manuel Pérez — Yea
Calderon, Lisa Democratic Yea
Grove, Shannon Republican Yea
Jones, Brian W. Republican Yea

Official roll call →

Do pass, to Consent Calendar.

Passed 10 Yea · 0 Nay
Party YeaNayPresentNot Voting
Unaffiliated 9000
Republican 1000
Total 10000
% of votes cast 100%0%0%0%
How each member voted (10)
Member Party Vote
Gorell — Yea
Feuer — Yea
Atkins — Yea
Dickinson — Yea
Huber — Yea
Monning — Yea
Wagner — Yea
Wieckowski — Yea
Bonnie Lowenthal — Yea
Jones, Brian W. Republican Yea

Official roll call →

Subjects

finance veterans
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does AB 2476 do?
Existing law provides certain legal rights for service members, including with regard to credit agreements, interest liabilities, and mortgages and trusts. Existing law prohibits an obligation or liability bearing interest at a rate in excess of 6% per year incurred by a service member before that person's entry into service from bearing interest at a rate in excess of 6% per year during any part of the period of military service, except as prescribed. Existing law provides that a person who violates this rate of interest provision is liable for actual damages, reasonable attorney's fees, and costs incurred by an injured party. This bill would, in addition, recast these provisions to prohibit an obligation or liability consisting of a mortgage, trust deed, or other security in the nature of a mortgage, that is bearing interest at a rate in excess of 6% per year and incurred by a service member before that person's entry into service from bearing interest in excess of 6% per year for one year after any part of the period of military service.
Who sponsors AB 2476?
AB 2476 is sponsored by Committee on Veterans Affairs.
What is the current status of AB 2476?
This bill has been enacted into law. Introduced February 24, 2012. Enacted.
Where can I track AB 2476?
Track AB 2476 free on One Click Politics — get push/email alerts when it moves.

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