SB219 Imposes $3 Fee Per Deferred Deposit Transaction
Summary
Kentucky Senate Bill 219 was signed into law, amending KRS 286.9-140 to impose a $3 fee per deferred deposit transaction on licensees required to submit transaction data to the Department of Financial Institutions. The fee applies to all deferred deposit transactions entered into on or after the Act's effective date. The bill passed the Senate 32-6 and the House 87-5 before receiving veto override votes.
What changed
Kentucky SB219 amends KRS 286.9-140 to impose a new $3 fee on each deferred deposit transaction for data submission requirements. The Department of Financial Institutions commissioner will collect this fee from all deferred deposit service business licensees. The Act applies prospectively to transactions entered into on or after its effective date.
Deferred deposit service businesses operating in Kentucky must now factor this $3 per-transaction fee into their cost of compliance. These licensees should update their financial systems and reporting procedures to accommodate the new fee obligation for all new deferred deposit transactions. The fee represents a modest but ongoing compliance cost for entities in the short-term consumer lending sector.
What to do next
- Deferred deposit service businesses must pay the $3 fee per transaction for data submission to the Kentucky Department of Financial Institutions
- Licensees should ensure compliance systems account for the new per-transaction fee on all future deferred deposit transactions
Archived snapshot
Apr 11, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
ChangeBridge / Kentucky / SB219 Signed by Governor SB219 Senate Bill Signed by Governor 2026-03-31
AN ACT relating to debts.
Amend KRS 286.9-140 to require the commissioner of the Department of Financial Institutions to impose a $3 fee per deferred deposit transaction for data required to be submitted by a deferred deposit service business licensee; direct that the Act applies to deferred deposit transactions entered or or after the effective date of the Act.
Bill Details
State Kentucky
Session 2026 Regular Session
Chamber Senate
Official Source apps.legislature.ky.gov/record/26RS/sb219....
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Sponsors
Jason Howell (Sen - R)
Action History
2026-04-10 S filed without Governor's signature with the Secretary of State 2026-03-31 S delivered to Governor 2026-03-31 S enrolled, signed by Speaker of the House 2026-03-31 S enrolled, signed by President of the Senate 2026-03-31 S passed 32-6 2026-03-31 S Senate concurred in Committee Substitute (1), Floor Amendment (1) and Committee Amendment (1-title) 2026-03-27 S passed over and retained for concurrence in House Committee Substitute (1), Floor Amendment (1) and Committee Amendment (1-title) 2026-03-27 S posted for passage for concurrence in House Committee Substitute (1), Floor Amendment (1) and Committee Amendment (1-title) 2026-03-27 S taken from Rules 2026-03-27 S to Rules (S) 2026-03-27 S received in Senate 2026-03-26 H 3rd reading, passed 87-5 with Committee Substitute (1), Floor Amendment (1) and Committee Amendment (1-title) 2026-03-24 H floor amendment (1) filed to Committee Substitute 2026-03-20 H posted for passage in the Regular Orders of the Day for Tuesday, March 24 2026 2026-03-19 H 2nd reading, to Rules 2026-03-18 H reported favorably, 1st reading, to Calendar with Committee Substitute (1) and Committee Amendment (1-title) 2026-03-13 H to Banking & Insurance (H) 2026-03-11 H to Committee on Committees (H) 2026-03-11 H received in House 2026-03-10 S 3rd reading, passed 38-0 2026-03-06 S posted for passage in the Regular Orders of the Day for Tuesday, March 10 2026 2026-03-04 S 2nd reading, to Rules 2026-03-03 S reported favorably, 1st reading, to Calendar 2026-02-27 S to Banking & Insurance (S) 2026-02-20 S to Committee on Committees (S) 2026-02-20 S introduced in Senate
Votes
2026-03-10 Senate: Third Reading RSN# 3902 Yea: 38 Nay: 0 2026-03-26 House: Veto Override RCS# 333 Yea: 87 Nay: 5 2026-03-31 Senate: Third Reading RSN# 4076 Yea: 32 Nay: 6
Committee Referrals
2026-02-20 S Committee on Committees 2026-02-27 S Banking and Insurance 2026-03-04 S Rules 2026-03-11 H Committee On Committees 2026-03-13 H Banking and Insurance 2026-03-19 H Rules 2026-03-27 S Rules
Amendments
0000-00-00 House Committee Substitute 0000-00-00 House Committee Amendment 0000-00-00 House Floor Amendment
Bill Text Versions
0000-00-00 Introduced 0000-00-00 Engrossed 0000-00-00 Enrolled
Subjects
Banks and Financial Institutions Fees State Agencies Legislative data powered by LegiScan (CC BY 4.0)
Named provisions
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