#amendment u

A brief final look at the 6 failed ballot questions

Yesterday I posted  a look at the four ballot questions which the voters of South Dakota approved. In this post I will look at the six ballot questions that didn’t make it. Hopefully this will be the last time I have to blog about any of these (except maybe a clean attempt at the legislation which was destroyed and became RL 19). These numbers are based upon the unofficial results. Next week the…

A look at Initiated Measure 21, 36% payday lender cap

I have completed my posts about the constitutional amendments and referred laws as I look at the ballot questions in the 2016 South Dakota election. Now it is time to look at the initiated measure, of which there are three. First up is Initiated Measure 21 (IM 21). IM 21 would set a 36% interest rate cape on payday loans. This post will look at some of the basics of IM 21. There may be more posts…

A look at Constitutional Amendment U, no limits to payday loan interest rates

Constitutional Amendment U is up next for the ballot questions in the 2016 South Dakota election. Amendment U is an odd one that says it caps payday loans at 18%; but in reality that 18% cap is only on payday loans without a written agreement. Otherwise the proposed amendment will actually prevent the legislature from capping payday loan interest rates in statute if there is a written agreement.…

18% ballot measure becomes SD Constitution Amendment U on the 2016 ballot

South Dakota Secretary of State Shantel Krebs has certified another petition for the 2016 election. Here is her announcement of her team getting through the latest petition: https://twitter.com/SOSKrebs/status/684136766517858306 This petition was brought forth by the payday lending industry as a direct response to the 36% payday lender cap that was recently certified by the SOS as Initiated…