All Information (Except Text) for S.838 - PACE Act of 2017115th Congress (2017-2018) |
|Sponsor:||Sen. Cotton, Tom [R-AR] (Introduced 04/05/2017)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||Senate - 05/11/2017 Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-56. (All Actions)|
This bill has the status Introduced
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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries
Short Titles - Senate
Short Titles as Introduced
PACE Act of 2017
Protecting Americans from Credit Entanglements Act of 2017
Actions Overview (1)
|04/05/2017||Introduced in Senate|
04/05/2017 Introduced in Senate
All Actions (2)
|05/11/2017||Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-56.|
Action By: Committee on Banking, Housing, and Urban Affairs
|04/05/2017||Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.|
Action By: Senate
05/11/2017 Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-56.
04/05/2017 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
|Sen. Boozman, John [R-AR]*||04/05/2017|
|Sen. Rubio, Marco [R-FL]*||04/05/2017|
|Sen. Kennedy, John [R-LA]||05/09/2017|
|Committee / Subcommittee||Date||Activity||Reports|
|Senate Banking, Housing, and Urban Affairs||04/05/2017||Referred to|
Subject — Policy Area:
One Policy Area term, which best describes an entire measure, is assigned to every public bill or resolution.
Latest Summary (1)
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.