SB 1623

REFERENCE TITLE: credit cards; interest rate; requirements
State of Arizona
Senate
Fifty-seventh Legislature
Second Regular Session
2026
SB 1623
Introduced by
Senator
  Gowan
AN
ACT
amending title 44, chapter 35, arizona
revised statutes, by adding article 2; relating to credit card agreements.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Title 44, chapter 35, Arizona
Revised Statutes, is amended by adding article 2, to read:
ARTICLE 2. INTEREST RATES
START_STATUTE44-7821. Credit card interest rates; late fees; surcharge prohibited
A. A credit card company that does
business in this state may charge an interest rate of not more than fifteen
percent for all credit card purchases charged to a credit card account.� A
credit card company may charge a late fee of not more than $10 regardless of
the credit card balance.
B. The fifteen percent interest rate
applies to the previous twelve months of interest that has accrued and been
charged to the credit card.
C. A credit card merchant may not add
a surcharge to any charge that is made using a credit card.
D. The attorney general may
investigate and take appropriate action pursuant to chapter 10, article 7 of
this title. END_STATUTE
Sec. 2. Retroactivity
This act applies retroactively to from
and after twelve months before the effective date of this act.
Sec. 3. Emergency
This act is an emergency measure that
is necessary to preserve the public peace, health or safety and is operative
immediately as provided by law.