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

SB 172 caps interest rates on medical debt at a maximum of 4% annually (and minimum of 1.5%), based on the weekly average Treasury yield published by the Federal Reserve. It directly affects consumers who owe healthcare providers for services, limiting interest charges on new medical debt incurred after the law takes effect. The bill sets the interest rate using the Federal Reserve's weekly Treasury yield data from the week before the consumer received their bill. This policy change applies only to new medical debt, not existing balances.