Extending interest rate cap to all obligations incurred during military service
SB 613 caps interest rates on debts for active-duty West Virginia military members and their spouses at 6% per annum during deployment periods. It applies to all debts incurred on or after July 1, 2026, including mortgages, credit cards, and loans. Military members must provide creditors written notice with military orders within 180 days of ending duty, triggering a reduction in payments for forgiven interest above 6%. The bill extends existing protections to cover all debt types, not just specific loans.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jan 2026
Committee Review
Floor Vote
Governor
Introduced Jan 27, 2026
Last action Feb 20, 2026
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What changed between versions
Introduced Version
→
Committee Substitute
·
4 edits
MODERATE
The bill was revised from a general interest rate cap to a more specific law defining terms like 'member' and 'obligation' and clarifying how interest forgiveness works. It also added a new mechanism allowing creditors to petition a magistrate court for relief if the interest cap would unfairly harm their ability to collect debt.
Scope change
The bill's scope expanded from a broad reference to federal protections to a specific state law with defined terms and a new judicial relief process for creditors.
DEFINITION
Added specific definitions for 'member' (West Virginia National Guard on active duty for 30+ days) and 'obligation' (retail contracts, loans, bonds, etc.).
ELIGIBILITY
Clarified that protections apply to members and their spouses, replacing the vague reference to 'a person'.
ENFORCEMENT
Created a new process allowing creditors to file a petition in magistrate court to request relief from the interest rate cap under specific conditions.
REQUIREMENT
Updated the notice requirement to specify that the creditor must treat the obligation as capped starting from the date the active duty order began, not just upon receipt of notice.
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
6
Key actions
0
Committee
2
Feb 20, 2026
Committee
To Finance
upper
Feb 20, 2026
Committee
Committee substitute reported, but first to Finance
upper
Jan 27, 2026
Introduced
Introduced in Senate
upper
1 primary · 1 co-sponsor
Sponsors
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