AN ACT RELATING TO COMMERCIAL LAW -- GENERAL REGULATORY PROVISIONS -- INTEREST AND USURY

This bill establishes a maximum interest rate for medical debt owed to healthcare facilities and professionals. Under the new rules, interest on such debt is capped between 1.5% and 4% per year, calculated based on federal Treasury yields, and applies only to debts created after the law takes effect. Additionally, the legislation prohibits charging any interest or late fees to patients who receive financial assistance. The changes directly affect consumers with unpaid medical bills and the healthcare entities that collect them.