LRB-5732/1
KSH:jrd&kmg:kat
1995 - 1996 LEGISLATURE
May 1, 1996 - Introduced by
Committee on Assembly Organization. Referred to
Committee on Rules.
AB1095,1,2
1An Act to affect Laws of
1981, chapter 45, section
50;
relating to: repealing the
2rejection of federal preemption over state interest rate provisions.
Analysis by the Legislative Reference Bureau
Under the federal depository institutions deregulation and monetary control
act of 1980, (DIDMCA) a state could elect to opt out of provisions of DIDMCA which
established federal preemption over a state regarding usury, or interest rate, laws.
Wisconsin elected to opt out and expressly rejected federal preemption in 1981. This
bill repeals the federal preemption opt-out provision.
For further information see the state fiscal estimate, which will be printed as
an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
