FOR IMMEDIATE RELEASE
Wednesday, August 07, 2013
Contact: Kevin Flannery, (573) 526-0949
Initiative Petition Relating to Interest Rates on Loans Approved for Circulation for 2014 Ballot
Jefferson City, Mo. — Secretary of State Jason Kander today announced that an initiative petition relating to interest rates on loans met state standards for circulation.
The official ballot title for the initiative petition reads:
Shall the Missouri Constitution be amended to restrict state law from including a maximum interest rate on loans involving written agreements between borrowers and lenders?
State and local governmental entities expect no significant costs or savings if this proposal is approved by voters.
The petition, which would amend Article III of the Missouri Constitution, was submitted by Jewell Patek, 331 Madison, Jefferson City, MO 65102.
Before any constitutional changes can be brought before Missouri voters in the November 2014 election, signatures must be obtained from registered voters equal to eight (8) percent of the total votes cast in the 2012 governor's election from six of the state's eight congressional districts.
Signatures on behalf of all initiative petitions for the 2014 ballot are due to the secretary of state’s office by no later than 5 p.m. on May 4, 2014.
Before circulating petitions, state law requires that groups must first have the form of their petition approved by the secretary of state and attorney general. The secretary of state then prepares a summary statement of no more than 100 words and the state auditor prepares a fiscal impact statement, both of which are subject to the approval of the attorney general. When both statements are approved, they become the official ballot title.
Visit www.sos.mo.gov to learn more about the Office of the Missouri Secretary of State.
« view more News Releases