(a) Each year the commissioner shall compute, in accordance with § 341.203, the amount of each:
(1) ceiling on a cash advance regulated under this subtitle that is required to be revised; and
(2) bracket that establishes a range of cash advances or balances to which a maximum charge provided by this subtitle applies and that is required to be revised.
(b) The revised ceiling or bracket amount takes effect on July 1 of the year of its computation.