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

HB 5235 caps interest rates on medical debt owed to healthcare providers. It limits interest to the weekly average one-year Treasury yield (with a minimum of 1.5% and maximum of 4% annually), as reported by the Federal Reserve. This applies only to new medical debt incurred after the bill takes effect, directly affecting consumers with unpaid medical bills. The law aims to prevent excessive interest charges on healthcare costs without altering existing debt.