A lawsuit before the Arkansas Supreme Court is challenging a proposed constitutional amendment that would ease the state’s interest-rate limits on consumer and government loans and allow bond financing for energy efficiency projects.
The lawsuit filed Friday asks the court to block the measure from appearing on the Nov. 2 general election ballot. Lawmakers last year decided to put the measure before voters.
The lawsuit claims the proposal merges three “separate and disparate” proposals into one measure. The lawsuit says the proposal is an attempt to skirt a limit that allows the Legislature to refer no more than three amendments to voters in an election year.
The lawsuit also says that the ballot title doesn’t adequately tell voters that the measure will increase the maximum rate of interest for consumer loans.