The following apply to the department of financial institutions:

1. (1) The department of financial institutions shall adopt rules under the interim rule procedures in IC 4-22-2-37.2 announcing:

   1. (A) sixty (60) days before January 1 of each odd-numbered year in which dollar amounts under IC 37-2 (Uniform Consumer Credit Code) are to change, the changes in dollar amounts required by IC 37-2-1-5 (b);
   2. (B) promptly after the changes occur, changes in the Index required by IC 37-2-1-5 (c), including, when applicable, the numerical equivalent of the Reference Base Index under a revised Reference Base Index and the designation or title of any index superseding the Index;
   3. (C) the adjustments required under IC 37-5-2-8 concerning high cost home loans; and

   4. (D) the adjustments required under IC 34-55-10-2 (bankruptcy exemptions; limitations) or IC 34-55-10-2.5 .

      A rule described in this subdivision expires not later than January of the next odd-numbered year after the department of financial institutions is required to issue the rule.

2. (2) The department of financial institutions may adopt a rule under the interim rule procedures in IC 4-22-2-37.2 for a rule permitted under IC 37-1-1-1 (licensing system for creditors and mortgage loan originators) or IC 37-2 (Uniform Consumer Credit Code) if the department of financial institutions declares an emergency. A rule described in this subdivision expires not later than two (2) years after the rule is effective.

3. (3) The department of financial institutions may adopt a rule described in IC 34-55-10-2 (bankruptcy exemptions; limitations) or IC 34-55-10-2.5 in conformity with the procedures in IC 4-22-2-23 through IC 4-22-2-36 or the interim rule procedures in IC 4-22-2-37.2 . A rule described in this subdivision adopted under IC 4-22-2-37.2 expires not later than two (2) years after the rule is accepted for filing by the publisher of the Indiana Register.

   A rule described in this section may be continued in another interim rule only if the governor determines under IC 4-22-2-37.2 (c) that the policy options available to the agency are so limited that use of the additional notice, comment, and review procedures in IC 4-22-2-23 through IC 4-22-2-36 would provide no benefit to persons regulated or otherwise affected by the rule.

As added by P.L.249-2023, SEC.43. Amended by P.L.93-2024, SEC.20; P.L.115-2026, SEC.7.