/ Modified may 1, 2010 2:25 a.m.

House Bill 2370 - Payday Loans NOW Tax Credits

March 16, 2010 | AZPM

House Bill 2370 originally dealt with the theft of pallets but an amendment filed by Senator Russell Pearce (R) changed the proposal to make it deal with the payday loan industry. Under the provisions of the rewritten HB 2370 the payday loan industry would be allowed to continue to operate after July 10, 2010 when it was supposed to be abolished in the state. In November 2008, Arizona voters failed to pass an initiative that would have allowed the payday loan industry to continue. HB 2370 also requires payday loan companies to pay 1.5 percent of money made each year to local organizations that deal with low and moderate income individuals.

On March 16, 2010 the Senate Appropriations committee failed the proposal on a 3-5 vote. Pima County delegation member Senator Al Melvin (R) voted for the bill while Pima County delegation member Senator Paula Aboud (D) voted against the proposal. Senator Melvin said he voted for HB 2370 so the entire Senate could vote on the proposal. Meanwhile, Senator Aboud said she voted against the proposal because the vote of the people in 2008 needs to be respected.

Update

After the payday amendment failed and another amendment was added to this bill to make it deal with income taxes credits for research.

On April 20,2010 the full Senate failed the latest version of HB 2370 on a 12-16 vote.

Pima County Senate Delegation Vote

  • Paula Aboud (D) – Yes
  • Frank Antenori (R) – No
  • Jorge Luis Garcia (D) – No
  • Linda Lopez (D) – Yes
  • Al Melvin (R) – Yes

Full Senate Vote on HB 2370

Update

On April 21, 2010 the Senate reconsidered the vote on HB 2370 and passed it on a 16-12 vote.

Pima County Senate Delegation Vote:

  • Paula Aboud (D) – No
  • Frank Antenori (R) – Yes
  • Jorge Luis Garcia (D) – No
  • Linda Lopez (D) – Yes
  • Al Melvin (R) – Yes

Full Senate Vote on HB 2370

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