By a one-vote margin, the House on Tuesday sent Gov. Bill Ritter legislation putting new limits on payday loans that supporters said would help break a cycle of debt by borrowers, The Denver Post reports.

On a 33-32 vote, the House agreed to a Senate version that essentially does away with traditional, two-week payday loans as they exist in law now, replacing them with loans that can be paid back over as long as six months.

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The Durango Herald: The sponsor, Rep. Mark Ferrandino, D-Denver, said he was happy with the result. “It’s not as strong as I introduced and as (strong) as I would have liked to have seen. But it really deals with the cycle of debt,” Ferrandino said. “The question now is, will the industry find ways to get around it.” Four Democrats sided with all the House Republicans to vote no.

Associated Press: A bill limiting the terms of payday loans was headed to the governor for his signature Tuesday after Democrats agreed to give consumers more control over how they repay such debts.

The Denver Post: On a 33-32 vote, the House agreed to a Senate version that essentially does away with traditional, two-week payday loans as they exist in law now, replacing them with loans that can be paid back over as long as six months. Under current law, payday lenders can charge fees that amount to a more than 300 percent interest rate measured as an annual percentage rate.