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LD2056 • 2025

An Act to Provide Additional Financing Options to Consumers in the State

An Act to Provide Additional Financing Options to Consumers in the State

Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor
Senator Glenn Curry
Last action
2026-04-29
Official status
COMMITTEE ON BILLS IN THE SECOND READING REPORTS NO FURTHER VERBAL AMENDMENTS NECESSARY. REPORT ACCEPTED. READ A SECOND TIME and PASSED TO BE ENGROSSED AS AMENDED BY Committee Amendment "A" (S-538) Ordered sent down forthwith for concurrence.
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

An Act to Provide Additional Financing Options to Consumers in the State

An Act to Provide Additional Financing Options to Consumers in the State Sponsor: Senator Glenn Curry Reference committee: Health Coverage, Insurance and Financial Services Latest committee action: Reported Out; OTP-AM/ONTP

What This Bill Does

  • An Act to Provide Additional Financing Options to Consumers in the State Sponsor: Senator Glenn Curry Reference committee: Health Coverage, Insurance and Financial Services Latest committee action: Reported Out; OTP-AM/ONTP

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Amendments

These notes stay tied to the official amendment files and metadata from the legislature.

Adopted by Senate

Plain English: Page 1 - 132LR2897(02) COMMITTEE AMENDMENT 1 L.D.

  • Page 1 - 132LR2897(02) COMMITTEE AMENDMENT 1 L.D.
  • 2056 2 Date: (Filing No.
  • S- ) 3HEALTH COVERAGE, INSURANCE AND FINANCIAL SERVICES 4 Reproduced and distributed under the direction of the Secretary of the Senate.
  • 5STATE OF MAINE 6SENATE 7132ND LEGISLATURE 8SECOND REGULAR SESSION 9 COMMITTEE AMENDMENT “ ” to S.P.
Sponsored By Representative Mathieson of Kittery

Plain English: Page 1 - 132LR2897(03) HOUSE AMENDMENT 1 L.D.

  • Page 1 - 132LR2897(03) HOUSE AMENDMENT 1 L.D.
  • 2056 2 Date: (Filing No.
  • H- ) 3 Reproduced and distributed under the direction of the Clerk of the House.
  • 4STATE OF MAINE 5HOUSE OF REPRESENTATIVES 6132ND LEGISLATURE 7SECOND REGULAR SESSION 8 HOUSE AMENDMENT “ ” to S.P.

Bill History

  1. 2026-04-29 House

    The Bill was in the possession of the House when the Legislature adjourned Sine Die and was placed in the Legislative Files. ( DEAD )

  2. 2026-03-18 Senate

    COMMITTEE ON BILLS IN THE SECOND READING REPORTS NO FURTHER VERBAL AMENDMENTS NECESSARY. REPORT ACCEPTED. READ A SECOND TIME and PASSED TO BE ENGROSSED AS AMENDED BY Committee Amendment "A" (S-538) Ordered sent down forthwith for concurrence.

  3. 2026-03-11 Committee

    Reported Out; OTP-AM/ONTP

  4. 2026-02-11 Committee

    Work Session Held

  5. 2026-02-11 Committee

    Voted; Divided Report

  6. 2025-12-15 Committee

    Referred to Committee on Health Coverage, Insurance and Financial Services.

Official Summary Text

An Act to Provide Additional Financing Options to Consumers in the State
Sponsor:
Senator Glenn Curry
Reference committee:
Health Coverage, Insurance and Financial Services
Latest committee action:
Reported Out; OTP-AM/ONTP

Current Bill Text

Read the full stored bill text 
Printed on recycled paper
132nd MAINE LEGISLATURE
SECOND REGULAR SESSION-2026
Legislative Document No. 2056
S.P. 843 In Senate, December 17, 2025
An Act to Provide Additional Financing Options to Consumers in
the State
Approved for introduction by a majority of the Legislative Council pursuant to Joint Rule
203.
Received by the Secretary of the Senate on December 15, 2025. Referred to the Committee
on Health Coverage, Insurance and Financial Services pursuant to Joint Rule 308.2 and ordered
printed.
DAREK M. GRANT
Secretary of the Senate
Presented by Senator CURRY of Waldo.

Page 1 - 132LR2897(01)
1Be it enacted by the People of the State of Maine as follows:
2Sec. 1. 9-A MRSA §3-308, sub-§1, as repealed and replaced by PL 1985, c. 113,
3 §2, is repealed and the following enacted in its place:
41. Except as provided in this section, a creditor may not contract for or receive
5 payments of principal and interest pursuant to a schedule of payments under which any one
6 payment is not substantially equal to all other payments, excluding:
7 A. A down payment receivable by the creditor;
8 B. A transaction pursuant to a schedule of payments under which the intervals between
9 any consecutive payments differ substantially; and
10 C. A simple interest transaction pursuant to a schedule of payments under which the
11 scheduled payments are not substantially equal but no payment is more than 50%
12 greater than any other payment;
13SUMMARY
14 This bill excludes payments made pursuant to a simple interest transaction that are no
15 more than 50% greater than any other payment from the law requiring that consumer credit
16 payments pursuant to a schedule be substantially equal to all other payments.
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