US Congress Senate Bill 838 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 4-0)
Status: Introduced on April 5 2017 - 25% progression, died in chamber
Action: 2017-05-11 - Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-56.
Text: Latest bill text (Introduced) [PDF]

PACE Act of 2017 Protecting Americans from Credit Entanglements Act of 2017 This bill amends the Truth in Lending Act to extend that Act's requirements to real property retrofit loans. A "real property retrofit loan" is a loan that is: (1) secured by an interest in real property; (2) repayable in installment payments made concurrently with the payment of property taxes on the real property; and (3) used to finance real property retrofits, including energy-efficiency upgrades, renewable-energy installations, seismic retrofits, water-conservation upgrades, and other similar improvements. Before extending a real property retrofit loan, the creditor must disclose that the loan will result in a lien on the real property securing the loan.

PACE Act of 2017 Protecting Americans from Credit Entanglements Act of 2017

Sen. Tom Cotton [R-AR]

Sen. John Boozman [R-AR]

Sen. Marco Rubio [R-FL]

Sen. John Kennedy [R-LA]

Date	Chamber	Action
2017-05-11	Senate	Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-56.
2017-04-05	Senate	Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

HB1958 (Related) 2017-04-05 - Referred to the House Committee on Financial Services.

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/senate-bill/838/all-info
Text	https://www.congress.gov/115/bills/s838/BILLS-115s838is.pdf