Texas Proposition 5, Commercial Loans Interest Rates Amendment (2005)
| Texas Proposition 5 | |
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| Election date |
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| Topic Business regulations |
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| Status |
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| Type Legislatively referred constitutional amendment |
Origin |
Texas Proposition 5 was on the ballot as a legislatively referred constitutional amendment in Texas on November 8, 2005. It was defeated.
A "yes" vote supported authorizing the legislature to exempt commercial loans from state usury laws, establishing maximum interest rates. |
A "no" vote opposed authorizing the legislature to exempt commercial loans from state usury laws, establishing maximum interest rates. |
Election results
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Texas Proposition 5 |
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| Result | Votes | Percentage | ||
| Yes | 880,379 | 43.41% | ||
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1,147,628 | 56.59% | ||
Text of measure
Ballot title
The ballot title for Proposition 5 was as follows:
| “ | Proposing a constitutional amendment authorizing the legislature to define rates of interest for commercial loans. | ” |
Full Text
The full text of this measure is available here.
Path to the ballot
- See also: Amending the Texas Constitution
A two-thirds vote was needed in each chamber of the Texas State Legislature to refer the constitutional amendment to the ballot for voter consideration.
The constitutional amendment was introduced into the Texas State Legislature as Senate Joint Resolution 21 during the 79th regular legislative session in 2005.[1]
See also
External links
Footnotes
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State of Texas Austin (capital) |
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