US Congress House Bill 1958 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on April 5 2017 - 25% progression, died in committee
Action: 2017-04-05 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
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. At the time of application for 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

Rep. Brad Sherman [D-CA]

Rep. Edward Royce [R-CA]

Date	Chamber	Action
2017-04-05	House	Referred to the House Committee on Financial Services.
2017-04-05	House	Introduced in House

SB838 (Related) 2017-05-11 - Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-56.

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/1958/all-info
Text	https://www.congress.gov/115/bills/hr1958/BILLS-115hr1958ih.pdf