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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (3)

Short Titles

Short Titles - Senate

Short Titles as Introduced

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

Official Titles

Official Titles - Senate

Official Titles as Introduced

A bill to amend the Truth in Lending Act to include retrofit loans such as property assessed clean energy loans, and for other purposes.

Actions Overview (1)

04/05/2017Introduced in Senate

All Actions (2)

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

Cosponsors (3)

* = Original cosponsor
CosponsorDate Cosponsored
Sen. Boozman, John [R-AR]* 04/05/2017
Sen. Rubio, Marco [R-FL]* 04/05/2017
Sen. Kennedy, John [R-LA] 05/09/2017

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
Senate Banking, Housing, and Urban Affairs04/05/2017 Referred to
05/11/2017 Hearings by

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Latest Summary (1)

There is one summary for S.838. View summaries

Shown Here:
Introduced in Senate (04/05/2017)

Protecting Americans from Credit Entanglements Act of 2017 or the PACE 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.