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Senator Talbot asks committee to cap interest on medical debt at 3%
Summary
Sen. Talbot presented SB 414 to cap interest on medical debt at 3%, saying the bill focuses on debt from life-saving procedures and aligns with actions in other states; a staff amendment was adopted and the committee moved the bill as amended.
Senator Talbot told the committee he was bringing a narrowed medical-debt bill that keeps a 3% interest-rate cap on medical debt. "Basically, members, what we're doing is we're just capping the interest rate on medical debt at 3%, which is similar to what other states have done," he said, adding the measure is intended to help people who incur debt from life-saving procedures rather than discretionary spending.
Senator Abraham asked whether certain garnishment restrictions previously in the bill remained; Talbot confirmed those provisions had been removed. Committee staff presented amendment set 32 41 and members adopted it to adjust the bill's posture. The bill was moved as amended without objection.
The transcript identifies stakeholder support (American Cancer Society and public-health groups registered) but records no roll-call vote on final passage from the committee. Next steps: SB 414 was moved from committee as amended for further legislative consideration.
