SB 85 (2025): relative to chartered bank lending limits.
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@misc{bill-2025-sb85, title = {SB 85 (2025): relative to chartered bank lending limits.}, howpublished = {Granite Record}, url = {https://graniterecord.org/bill/2025/sb85}, note = {Accessed 19 Oct. 2026} }
SB 85 (2025)
relative to chartered bank lending limits.
- Status: Signed into law
- Term: 2025-2026
- House committee: Commerce and Consumer Affairs
- Senate committee: Commerce
- Subject: Banking and Finance
- Chapter law: 225
The Story
It was introduced on January 9, 2025 and referred to the Senate Commerce committee. The committee held a public hearing on March 4, 2025. The committee voted unanimously, 6–0, to recommend that the Senate pass it with changes (amendment 2025-0907s), and the report was placed on the consent calendar. The committee's amendment (2025-0907s) was adopted on a voice vote on March 20, 2025, changing the text of the bill. On March 20, 2025 the Senate voted to pass it with changes on a voice vote and ordered it to a third reading. It crossed to the House on March 27, 2025 and was referred to the House Commerce and Consumer Affairs committee. The committee held a public hearing on April 22, 2025, with 5 people signed in online: 3 in support and 2 in opposition. The committee held a work session on May 6, 2025. The committee met in executive session on May 27, 2025 to vote on its recommendation. The committee voted unanimously, 16–0, to recommend that the House pass it, and the report was placed on the consent calendar. On June 5, 2025 the House voted to pass it on a voice vote. The bill was enrolled on June 26, 2025 — the final check of the text before it goes to the governor. The governor signed it on July 15, 2025, making it Chapter 225 of the session laws. It took effect on July 15, 2025.
Sponsors
- Sen. Howard Pearl (R - SD17) (prime sponsor)
- Sen. Tim McGough (R - SD11)
- Rep. Dan McGuire (R - Merr 14)
- Sen. Timothy Lang (R - SD2)
- Sen. David Watters (D - SD4)
- Rep. Michael Moffett (R - Merr 4)
- Sen. Tara Reardon (D - SD15)
- Sen. Keith Murphy (R - SD16)
- Rep. John Hunt (R - Ches 14)
- Sen. Daniel Innis (R - SD7)
- Sen. Mark McConkey (R - SD3)
- Rep. John Potucek (R - Rock 13)
- Sen. Cindy Rosenwald (D - SD13)
Hearings and Sessions
- March 4, 2025, 11:15 AM: hearing, Senate Commerce, SH 100
- March 20, 2025: consent calendar, Senate
- April 22, 2025, 2:00 PM: public hearing, House Commerce and Consumer Affairs, LOB 302-304
- May 6, 2025, 10:00 AM: subcommittee work session, House Commerce and Consumer Affairs, LOB 302-304
- May 27, 2025, 1:15 PM: executive session, House Commerce and Consumer Affairs, LOB 302-304
- June 5, 2025: consent calendar, House
Votes
- March 20, 2025, Senate: Ought to Pass with Amendment #2025-0907s — voice vote, passed
- June 5, 2025, House: Ought to Pass — voice vote, passed
The Docket
- January 9, 2025: Introduced 01/09/2025 and Referred to Commerce
- March 4, 2025: Hearing: 03/04/2025, Room 100, SH, 11:15 am
- March 20, 2025: Committee Report: Ought to Pass with Amendment # 2025-0907s, 03/20/2025; Vote 6-0; CC
- March 20, 2025: Committee Amendment # 2025-0907s, AA, VV; 03/20/2025
- March 20, 2025: Ought to Pass with Amendment #2025-0907s, MA, VV; OT3rdg; 03/20/2025
- March 27, 2025: Introduced (in recess of) 03/27/2025 and referred to Commerce and Consumer Affairs
- April 22, 2025: Public Hearing: 04/22/2025 02:00 pm LOB 302-304
- May 6, 2025: Subcommittee Work Session: 05/06/2025 10:00 am LOB 302-304
- May 27, 2025: Executive Session: 05/27/2025 01:15 pm LOB 302-304
- May 27, 2025: Committee Report: Ought to Pass 05/27/2025 (Vote 16-0; CC)
- June 5, 2025: Ought to Pass: MA VV 06/05/2025
- June 26, 2025: Enrolled (in recess of) 06/26/2025
- June 26, 2025: Enrolled Adopted, VV, (In recess 06/26/2025)
- July 15, 2025: Signed by the Governor on 07/15/2025; Chapter 0225; Effective 07/15/2025