A Maximum Interest Rate on Retail Sales, Initiative 412
ballot proposition was on the November 2, 1982 ballot
in the State of Washington
as an Initiative to the People
, where it was defeated.
| Initiative 412|
|Yes|| 452,710|| 33.97%|
Text of measure
The question asked on the ballot was, "Shall the maximum interest rate on retail sales be the higher of 12% or 1% over the federal discount rate?"
Path to the ballot
I-412 was filed on January 4, 1982 by Marvin L. Williams and Lawrence G. Kenney. 183,249 signatures were submitted to qualify it for the ballot.