Washington Maximum Interest Rate on Retail Sales, Initiative 412 (1982)
The Washington Maximum Interest Rate on Retail Sails Initiative, also known as Initiative 412, was on the November 2, 1982 ballot in Washington as an Initiative to the People, where it was defeated. The measure would have set a maximum annual interest rate for retail installment contracts at 12%.
|Washington Initiative 412 (1984)|
Election results via: Washington Secretary of State
Text of measure
The language appeared on the ballot as:
|“||Shall the maximum interest rate on retail sales be the higher of 12% or 1% over the federal discount rate?||”|
Path to the ballot
Initiative 412 was filed on January 4, 1982 by Marvin L. Williams and Lawrence G. Kenney of Seattle. 183,249 signatures were submitted to qualify it for the ballot. The measure was placed on the ballot as provided for by the state constitution.
- State of Washington ballot measure election results
- State of Washington 1982 Voters Pamphlet & Local Voters Pamphlet
- List of all State of Washington Initiatives to the People
State of Washington
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