HB23-1162

Consumer Legal Funding Transactions

Concerning the regulation of consumer legal funding transactions, and, in connection therewith, authorizing the administrator of the "Uniform Consumer Credit Code" to adopt rules regulating creditor-imposed charges for certain consumer credit transactions that are secured by a consumer's potential proceeds from a settlement or judgment obtained in an associated legal claim.

Session:

2023 Regular Session

Subjects:

Business & Economic Development

Financial Services & Commerce

Bill Summary

The act authorizes the administrator of the "Uniform Consumer Credit Code" to adopt rules regarding deferral charges for certain consumer credit transactions that are secured by the consumer's potential proceeds from a settlement or judgment obtained in the consumer's associated legal claim.

APPROVED by Governor June 1, 2023

EFFECTIVE August 7, 2023

NOTE: This act was passed without a safety clause and takes effect 90 days after sine die.
(Note: This summary applies to this bill as enacted.)

Date	Bill Type	Documents
06/01/2023	Signed Act	PDF
05/17/2023	Final Act	PDF
05/01/2023	Rerevised	PDF
04/28/2023	Revised	PDF
04/18/2023	Reengrossed	PDF
04/17/2023	Engrossed	PDF
02/01/2023	Introduced	PDF

Date	Bill Type	Documents
04/11/2023	PA2	PDF
02/17/2023	PA1	PDF

Date	Version	Documents
07/13/2023	FN4	PDF
04/20/2023	FN3	PDF
04/10/2023	MEMO1	PDF
03/01/2023	FN2	PDF
02/14/2023	FN1	PDF

Activity	Vote	Documents
Adopt amendment L.005 (Attachment A).	The motion passed without objection.	Vote Summary
Refer House Bill 23-1162, as amended, to the Committee of the Whole.	The motion passed on a vote of 7-1.	Vote Summary

Activity	Vote	Documents
Adopt amendment L.001	The motion passed without objection.	Vote Summary
Refer House Bill 23-1162, as amended, to the Committee on Finance.	The motion passed on a vote of 8-2.	Vote Summary

Consumer Legal Funding Transactions

Status

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Bill Text

All Versions (7 )

Preamended Versions (2 )

Budget Documents

Fiscal Notes (5)

Committee Actions

04/27/2023 | Senate Business, Labor, & Technology (1 )

04/10/2023 | House Finance (2 )

03/02/2023 | House Finance (0 )

02/16/2023 | House Business Affairs & Labor (2 )

Votes

Senate Votes (1)

House Votes (1)

Amendments

Bill History

Sponsors

Session Laws

Colorado General Assembly

Date	Amendment Number	Committee/Floor Hearing	Status	Documents
04/17/2023	L.006	Second Reading	Passed**	PDF
04/10/2023	L.005	HOU Finance	Passed*	PDF
02/16/2023	L.001	HOU Business Affairs & Labor	Passed*	PDF

Date	Location	Action
06/01/2023	Governor	Governor Signed
05/17/2023	Governor	Sent to the Governor
05/17/2023	Senate	Signed by the President of the Senate
05/17/2023	House	Signed by the Speaker of the House
05/01/2023	Senate	Senate Third Reading Passed - No Amendments
04/28/2023	Senate	Senate Second Reading Special Order - Passed - No Amendments
04/27/2023	Senate	Senate Committee on Business, Labor, & Technology Refer Unamended - Consent Calendar to Senate Committee of the Whole
04/19/2023	Senate	Introduced In Senate - Assigned to Business, Labor, & Technology
04/18/2023	House	House Third Reading Passed - No Amendments
04/17/2023	House	House Second Reading Special Order - Passed with Amendments - Committee, Floor
04/13/2023	House	House Second Reading Special Order - Laid Over Daily - No Amendments
04/10/2023	House	House Committee on Finance Refer Amended to House Committee of the Whole
03/02/2023	House	House Committee on Finance Witness Testimony and/or Committee Discussion Only
02/16/2023	House	House Committee on Business Affairs & Labor Refer Amended to Finance
02/01/2023	House	Introduced In House - Assigned to Business Affairs & Labor

Sponsor Type	Legislators
Prime Sponsor	Rep. S. Woodrow Sen. R. Rodriguez
Sponsor
Co-sponsor	Rep. A. Boesenecker, Rep. K. Brown, Rep. E. Epps, Rep. I. Jodeh, Rep. M. Lindsay, Rep. J. Parenti, Rep. S. Sharbini, Rep. E. Sirota, Rep. B. Titone, Rep. A. Valdez Sen. J. Buckner, Sen. L. Cutter, Sen. T. Exum, Sen. K. Priola, Sen. F. Winter

Steven Woodrow

Robert Rodriguez