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Alaska2026Passed Legislature

HB132

Alaska Bill HB132 on Small Loans and Payday Lending Rules

Last scannedSep 12, 2026, 4:46 AM

In one sentence

This bill changes the rules for loans of $25,000 or less in Alaska by setting a new interest rate limit, allowing lenders to register with a national system, and increasing license fees.

What it does

  • Sets a maximum interest rate of three percent per month on all loans up to $25,000.
  • Allows the state department to join the Nationwide Multistate Licensing System and Registry for lender oversight.
  • Increases application fees to $1,000 plus annual license fees ranging from $10,000 to $40,000 depending on business size.
  • Defines who counts as a lender by including people who hold economic interest in small loans or try to avoid rules through disguised sales.
  • Removes the previous rule that allowed different lower interest rates for smaller loan amounts under $850.

Who it affects

  • Lenders and financial institutions offering loans of $25,000 or less in Alaska.
  • People who broker, arrange, or service small loans while holding an economic interest in them.
  • The state department responsible for regulating financial licenses.

Limits and unknowns

  • The official text does not state when these new rules will officially begin.
  • Specific details on how the department will challenge registry information are left for future regulations.
  • The provided excerpt cuts off before finishing Section 11 regarding criminal threats by licensees.

Plain language

Terms to know

Nationwide Multistate Licensing System and Registry
A national system where the state may require lenders to register, submit applications, and pay fees.
Deferred deposit advance licensee
A type of lender that is no longer included in the definition of a financial institution under this bill.

Official record

Sources

Validated
Official bill pageIntroduced textCurrent bill text

Official summary

LOANS UNDER $25,000; PAYDAY LOANS An Act relating to loans in an amount of $25,000 or less; relating to the Nationwide Multistate Licensing System and Registry; relating to deferred deposit advances; and providing for an effective date.

Official activity

Bill history

  1. (H) -- MEETING CANCELED --Text
  2. (H) FINANCE at 01:30 PM ADAMS 519Text
  3. (H) REFERRED TO FINANCE560
  4. (H) FN1: (CED)560
  5. (H) AM: COULOMBE560
  6. (H) NR: NELSON560
  7. (H) DP: BURKE, CARRICK, SADDLER, HALL, FIELDS560
  8. (H) L&C RPT CS(L&C) 5DP 1NR 1AM560
  9. (H) Minutes (HL&C)Min
  10. (H) Moved CSHB 132(L&C) Out of CommitteeText
  11. (H) LABOR & COMMERCE at 03:15 PM BARNES 124Text
  12. (H) Minutes (HL&C)Min
  13. (H) Heard & HeldText
  14. (H) LABOR & COMMERCE at 03:15 PM BARNES 124Text
  15. (H) Minutes (HL&C)Min
  16. (H) <Bill Hearing Canceled>Text
  17. (H) LABOR & COMMERCE at 03:15 PM BARNES 124Text
  18. (H) Minutes (HL&C)Min
  19. (H) <Bill Hearing Canceled>Text
  20. (H) LABOR & COMMERCE at 03:15 PM BARNES 124Text