Kentucky 2023 Regular Session Status: Enacted

HB 429 — AN ACT relating to lending limits.

Last action — signed by Governor (Acts Ch. 101)

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

This bill has been enacted into law. Introduced February 21, 2023. Enacted.

Prognosis

Likely to advance 68% · 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.

  • Cleared a recorded vote

    Passed 2 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

Amend KRS 286.3-280 to limit the security requirement; permit a state bank or trust company to elect to comply with lending limits applicable to national banks; make technical corrections.

Bill Text

What changed in the latest version

46 added · 56 removed

Plain-language change summary

The updated version of HB 429 makes clarifications to the lending limits that banks and trust companies can set for individuals. Specifically, it continues to allow banks to extend loans up to 20% of their paid-in capital and surplus, but it also emphasizes that total indebtedness cannot exceed 30%. Additionally, the bill clarifies the process for calculating lending limits and allows banks to choose to follow national standards instead. This matters because it helps ensure banks can responsibly manage their lending while providing flexibility that aligns with federal regulations.

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Latest
UNOFFICIAL COPY 23 RS HB 429/GA AN ACT relating to lending limits.
CHAPTER 101 1 CHAPTER 101 ( HB 429 ) AN ACT relating to lending limits.
(3) No bank or trust company shall permit any of its directors or executive officers to become indebted to it or become obligated as guarantor or surety to it in an amount Page 1 of 2 HB042910.100 - 1034 - XXXX 3/3/2023 1:19 PM GA UNOFFICIAL COPY 23 RS HB 429/GA that[which] exceeds the amount that[ which] any other person is authorized by this section to become indebted or obligated to the bank or trust company.
(3) No bank or trust company shall permit any of its directors or executive officers to become indebted to it or become obligated as guarantor or surety to it in an amount that[which] exceeds the amount that[ which] any other person is authorized by this section to become indebted or obligated to the bank or trust company.
Page 2 of 2 HB042910.100 - 1034 - XXXX 3/3/2023 1:19 PM GA
Signed by Governor March 24, 2023.
Legislative Research Commission PDF Version
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View plain text versions (3)

Action History

  1. signed by Governor (Acts Ch. 101)

  2. delivered to Governor

  3. enrolled, signed by President of the Senate

  4. enrolled, signed by Speaker of the House

  5. received in House

  6. 3rd reading, passed 34 -0

  7. posted for passage in the Consent Orders of the Day for Thursday, March 16, 2023

  8. 2nd reading, to Rules as a consent bill

  9. reported favorably, 1st reading, to Consent Calendar

  10. to Banking & Insurance (S)

  11. to Committee on Committees (S)

  12. received in Senate

  13. 3rd reading, passed 97-0

  14. posted for passage in the Regular Orders of the Day for Friday, March 03, 2023

  15. 2nd reading, to Rules

  16. reported favorably, 1st reading, to Calendar

  17. to Banking & Insurance (H)

  18. to Committee on Committees (H)

  19. introduced in House

Sponsorship breakdown

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0 sponsors · 0 co-sponsors · 138 not signed on

Sponsors (0)

None.

Co-sponsors (0)

None.

Not signed on (138)

138 members have not signed on to this bill.

Show all 138 →

"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

FINAL PASS HB 429

Passed 34 Yea · 0 Nay · 3 Other
Party YeaNayPresentNot Voting
Democrat 2000
Republican 19002
Unaffiliated 13001
Total 34003
% of votes cast 92%0%0%8%
How each member voted (37)
Member Party Vote
Smith — Yea
Southworth — Yea
Westerfield — Yea
ChambersArmstrong — Yea
Meredith — Yea
Thayer — Yea
Williams — Yea
Thomas — Yea
Wilson — Yea
Nemes — Yea
Turner — Yea
Yates — Yea
Schickel — Yea
Harper Angel — Not Voting
Gerald A. Neal Democrat Yea
Karen Berg Democrat Yea
Amanda Mays Bledsoe Republican Yea
Brandon J. Storm Republican Yea
Christian McDaniel Republican Yea
Danny Carroll Republican Yea
David P. Givens Republican Yea
Donald Douglas Republican Yea
Gary Boswell Republican Yea
Jared Carpenter Republican Not Voting
Jason Howell Republican Yea
Jimmy Higdon Republican Yea
Julie Raque Adams Republican Not Voting
Lindsey Tichenor Republican Yea
Matthew Deneen Republican Yea
Max Wise Republican Yea
Phillip Wheeler Republican Yea
Rick Girdler Republican Yea
Robby Mills Republican Yea
Robert Stivers Republican Yea
Robin L. Webb Republican Yea
Shelley Funke Frommeyer Republican Yea
Stephen West Republican Yea

Official roll call →

Pass

Passed 97 Yea · 0 Nay · 3 Other
Party YeaNayPresentNot Voting
Democrat 13001
Republican 65001
Unaffiliated 19001
Total 97003
% of votes cast 97%0%0%3%
How each member voted (100)
Member Party Vote
Meredith — Yea
Dixon — Yea
Smith — Yea
Bentley — Yea
Nemes — Yea
Swann — Yea
Justice — Yea
Palumbo — Yea
Thomas — Yea
Timoney — Yea
Pratt — Yea
Bratcher S. — Yea
Webber — Yea
Raymond — Yea
Graham — Yea
Williams — Yea
Wilson — Yea
Heath — Not Voting
Bratcher K. — Yea
Stevenson C — Yea
Al Gentry Democrat Yea
Ashley Tackett Laferty Democrat Yea
Beverly Chester-Burton Democrat Yea
Chad Aull Democrat Yea
Daniel Grossberg Democrat Yea
George Brown Jr. Democrat Yea
Keturah J. Herron Democrat Yea
Lindsey Burke Democrat Yea
Lisa Willner Democrat Yea
Nima Kulkarni Democrat Yea
Pamela Stevenson Democrat Not Voting
Rachel Roarx Democrat Yea
Sarah Stalker Democrat Yea
Tina Bojanowski Democrat Yea
Aaron Reed Republican Yea
Adam Bowling Republican Yea
Amy Neighbors Republican Yea
Bill Wesley Republican Yea
Bobby McCool Republican Yea
Candy Massaroni Republican Yea
Chris Freeland Republican Yea
Chris Fugate Republican Yea
DJ Johnson Republican Yea
Daniel Elliott Republican Yea
Daniel Fister Republican Yea
David Hale Republican Yea
David Meade Republican Yea
David W. Osborne Republican Yea
Deanna Gordon Republican Yea
Derek Lewis Republican Yea
Emily Callaway Republican Yea
Felicia Rabourn Republican Not Voting
James Tipton Republican Yea
Jared Bauman Republican Yea
Jason Petrie Republican Yea
Jennifer Decker Republican Yea
Jim Gooch Jr. Republican Yea
John Blanton Republican Yea
John Hodgson Republican Yea
Josh Branscum Republican Yea
Josh Bray Republican Yea
Josh Calloway Republican Yea
Ken Fleming Republican Yea
Ken Upchurch Republican Yea
Kevin Jackson Republican Yea
Kim Banta Republican Yea
Kim King Republican Yea
Kimberly Poore Moser Republican Yea
Marianne Proctor Republican Yea
Mark Hart Republican Yea
Mary Beth Imes Republican Yea
Matt Lockett Republican Yea
Matthew Koch Republican Yea
Michael Sarge Pollock Republican Yea
Mike Clines Republican Yea
Myron Dossett Republican Yea
Nancy Tate Republican Yea
Patrick Flannery Republican Yea
Randy Bridges Republican Yea
Rebecca Raymer Republican Yea
Richard White Republican Yea
Robert Duvall Republican Yea
Ryan Dotson Republican Yea
Samara Heavrin Republican Yea
Savannah Maddox Republican Yea
Scott Lewis Republican Yea
Scott Sharp Republican Yea
Shane Baker Republican Yea
Shawn McPherson Republican Yea
Stephanie Dietz Republican Yea
Steve Rawlings Republican Yea
Steve Riley Republican Yea
Steven Doan Republican Yea
Steven Rudy Republican Yea
Susan Witten Republican Yea
Suzanne Miles Republican Yea
T.J. Roberts Republican Yea
Thomas Huff Republican Yea
Timmy Truett Republican Yea
William Lawrence Republican Yea

Official roll call →

Subjects

taxation finance
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 HB 429 do?
Amend KRS 286.3-280 to limit the security requirement; permit a state bank or trust company to elect to comply with lending limits applicable to national banks; make technical corrections.
What is the current status of HB 429?
This bill has been enacted into law. Introduced February 21, 2023. Enacted.
Where can I track HB 429?
Track HB 429 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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