Note: Ballotpedia will be read-only from 9pm CST on February 25-March 2 while Judgepedia is merged into Ballotpedia.
For status updates, visit lucyburns.org.

Texas Commercial Loans, Proposition 5 (2005)

From Ballotpedia
Jump to: navigation, search
Voting on
Business Regulation
Business regulation.jpg
Ballot Measures
By state
By year
Not on ballot
Texas Constitution
Seal of Texas.svg.png
Preamble
Articles
12
3 (1-43)3 (44-49)3 (50-67)
4567891011121314151617

The Texas Commercial Loans Amendment, also known as Proposition 5, was on the November 8, 2005 ballot in Texas as a legislatively-referred constitutional amendment, where it was defeated. The measure would have authorized the legislature to exempt commercial loans from state usury laws that set maximum interest rates. Commercial loans are loans made primarily for business, commercial, investment, agricultural, or similar purposes and not primarily for personal, family, or household purposes.[1][2]

Election results

Texas Proposition 5 (2005)
ResultVotesPercentage
Defeatedd No1,147,62856.59%
Yes 880,379 43.41%

Election results via: Legislative Reference Library of Texas

Text of measure

The text of the measure can be read here.

Path to the ballot

See also: Laws governing direct democracy in Texas

As laid out in Article 17 of the Texas Constitution, in order for a proposed constitutional amendment to be placed on the ballot, the Texas State Legislature must propose the amendment in a joint resolution of both the Texas State Senate and the Texas House of Representatives. The joint resolution can originate in either the House or the Senate. The resolution must be adopted by a vote of at least two-thirds of the membership of each house of the legislature. That amounts to a minimum of 100 votes in the House of Representatives and 21 votes in the Senate.

See also

BP-Initials-UPDATED.png
Suggest a link

External links

References


BallotMeasureFinal badge.png
This historical ballot measure article requires that the text of the measure be added to the page.