ENGROSSED SUBSTITUTE SENATE BILL 5993
State of Washington
69th Legislature
2026 Regular Session
By Senate Law & Justice (originally sponsored by Senators Alvarado, Riccelli, Bateman, Conway, Frame, Hasegawa, Liias, Lovelett, Lovick, Nobles, Orwall, Slatter, Stanford, Trudeau, Valdez, and C. Wilson)
READ FIRST TIME 01/23/26.
AN ACT Relating to lowering the interest rate for medical debt; and amending RCW 19.52.010 .
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
Sec. 1. RCW 19.52.010 and 2019 c 227 s 5 are each amended to read as follows:
(1) Except as provided in subsection (2) of this section, every loan or forbearance of money, goods, or thing in action shall bear interest at the rate of twelve percent per annum where no different rate is agreed to in writing between the parties: PROVIDED, That with regard to any transaction heretofore or hereafter entered into subject to this section, if an agreement in writing between the parties evidencing such transaction provides for the payment of money at the end of an agreed period of time or in installments over an agreed period of time, then such agreement shall constitute a writing for purposes of this section and satisfy the requirements thereof. The discounting of commercial paper, where the borrower makes himself or herself liable as maker, guarantor, or indorser, shall be considered as a loan for the purposes of this chapter.