The bill amends Chapter 6-26 of the General Laws by introducing a new section titled "Medical debt interest cap." This section defines "medical debt" as an obligation of a consumer to pay for healthcare services, products, or devices owed to a healthcare facility or a healthcare professional. It establishes that the interest on medical debt shall be limited to a rate equal to the weekly average one-year constant maturity Treasury yield, with a minimum of 1.5% per annum and a maximum of 4% per annum, as published by the Board of Governors of the Federal Reserve System for the calendar week preceding the date when the consumer was first provided with a bill. The interest rate provided in this section shall only apply to new debt incurred after the effective date of this section. The act will take effect immediately upon passage.