Division of the Budget
Landon State Office Building Phone: (785) 296-2436
900 SW Jackson Street, Room 504 adam.c.proffitt@ks.gov
Topeka, KS 66612 Division of the Budget http://budget.kansas.gov
Adam Proffitt, Director Laura Kelly, Governor


March 1, 2023


The Honorable Nick Hoheisel, Chairperson
House Committee on Financial Institutions and Pensions
300 SW 10th Avenue, Room 582-N
Topeka, Kansas 66612
Dear Representative Hoheisel:
SUBJECT: Fiscal Note for HB 2241 by House Committee on Financial Institutions and
Pensions
In accordance with KSA 75-3715a, the following fiscal note concerning HB 2241 is
respectfully submitted to your committee.
HB 2241 would amend current law relating to consumer loans and would make all closed-
end consumer loans subject to a maximum 36.0 percent per annum periodic finance charge. The
bill would remove the tiered finance charge of 36.0 percent for all unpaid balances up to $860 and
21.0 percent for all unpaid balances exceeding $860.
The Office of State Bank Commissioner indicates the closed-end consumer loan volume
reported to the Office could increase if supervised lenders would extend more closed-end
consumer loans over $860. The Office would consequently adjust its fees to result in no fiscal
effect to the Office.


Sincerely,

Adam Proffitt
Director of the Budget

cc: Brock Roehler, Office of the State Bank Commissioner


Statutes affected:
As introduced: 2-401, 2-404