The 2024 legislative session in Florida has come to a close, with Governor Ron DeSantis signing into law several bills. One such bill is House Bill 1347, which permits consumer finance companies to increase annual interest rates. The new rates will apply as follows: up to 36% on the first $10,000 of principal amounts, 30% on amounts that exceed $10,000 up to $20,000, and 24% on amounts between $20,000 and $30,000. This bill had previously been vetoed by DeSantis in 2023, but he has now signed it into law. The new rates took effect on Monday.
Another bill, Senate Bill 1600, streamlines the licensure process for professionals who are already licensed in other states or territories. The new law requires boards within the Florida Department of Professional Regulation, or the department itself if no board exists... to allow licensure by endorsement for any applicant who meets the specified criteria.
A third bill, SB 770, "amends the Property Assessed Clean Energy program," which allows property owners to make qualifying improvements to their properties and finance the cost through annual non-ad valorem tax assessments. The bill restructures the program to enhance protection for consumers entering into program contracts, "ensure oversight for contractors installing improvements.".. and expand the list of improvements that can be financed through the program.
Information for this article was obtained from "The Center Square".
Source: See here(The Center Square) — Florida Gov. Ron DeSantis recently signed some of the last bills to wrap up the 2024 legislative session. House Bill 1347 allows consumer finance companies to increase annual interest rates, of which they can charge up to 36% on the first $10,000 of principal amounts; 30% on amounts that exceed $10,000 up to $20,000; and 24% on amounts between $20,000 and $30,000.
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