83R1782 ATP-F
  By: Davis S.J.R. No. 41
  proposing a constitutional amendment providing that certain fees
  charged in connection with certain consumer loans are attributable
  to the lender and included in the computation of interest for
  purposes of regulating interest rates.
         SECTION 1.  Section 11, Article XVI, Texas Constitution, is
  amended to read as follows:
         Sec. 11.  (a) The Legislature shall have authority to define
  interest and fix maximum rates of interest; provided, however, in
  the absence of legislation fixing maximum rates of interest all
  contracts for a greater rate of interest than ten per centum (10%)
  per annum shall be deemed usurious; provided, further, that in
  contracts where no rate of interest is agreed upon, the rate shall
  not exceed six per centum (6%) per annum.
         (b)  Any fee charged by a third party to a borrower for
  arranging or otherwise facilitating a loan or other extension of
  credit that is extended primarily for personal, family, or
  household purposes and that is secured by a non-purchase money
  security interest in personal property or unsecured is attributable
  to the lender as interest for purposes of determining whether the
  rate of interest on the loan is usurious or otherwise exceeds the
  maximum rate of interest allowed by law.
         SECTION 2.  This proposed constitutional amendment shall be
  submitted to the voters at an election to be held November 5, 2013.
  The ballot shall be printed to permit voting for or against the
  proposition: "The constitutional amendment providing that fees
  charged by a third party in connection with arranging small
  consumer loans are included in the computation of interest for
  purposes of regulating interest rates."