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The payday loan industry does not want us to be able to use a ballot initiative to reign in the exorbitant interest rates they charge in Idaho. Interest rates in Idaho are over 400 percent. One in 10 people in Idaho have needed them. A MoneyTree lobbyist has quietly advised Senator Grow on drafting Senate Bill 1159 to drastically increase the burden of signatures to put an initiative on the ballot. The cooperation between Grow and the lobbyist came to light through a public records request by Boise State Public Radio. This bill is very likely in reaction to Colorado’s recent successful ballot initiative that places a 36 percent ceiling on payday loan interest rates.

The legislation would make it virtually impossible for a group of concerned citizens to place an initiative on the ballot. It nearly doubles the number of signatures needed and cuts the time to gather them from 18 months to 6 months. Only moneyed interests would be able to meet that heavy burden.

Because our Idaho Constitution guarantees the citizens of Idaho the right to ballot initiatives, this legislation is likely to be challenged both on state and federal constitutional issues. This would unnecessarily cost the state money that would be pulled from other urgent needs in our state.

Please contact Rep. Sage Dixon who has come out in support of this bill and Representative Heather Scott. Ask them to oppose Senate Bill 1159.

CAROL HOLMES

Sandpoint