S 838 · 115th Congress 2017–2019, ended

PACE Act of 2017

Introduced Apr 5, 2017 Originated Senate Sponsor Tom Cotton R-AR

Fact sheet

Latest action · May 11, 2017 Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-56.

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

  1. IntroducedApr 5, 2017
  2. Passed SenateNot reached
  3. Passed HouseNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

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.

Cosponsors 3

Members who signed on, in the order they did. Signatures ran from Apr 5, 2017 to May 9, 2017, with 2 there on the day it was introduced.

SeatCosponsorSigned on
R-ARJohn BoozmanOriginalApr 5, 2017
R-FLMarco RubioOriginalApr 5, 2017
R-LAJohn KennedyMay 9, 2017

Actions 3

Everything that happened, newest first.

  1. May 11, 2017Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-56.
  2. Apr 5, 2017Introduced in Senate
  3. Apr 5, 2017Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Related bills 1

Companion bills and other measures the record links to this one.

BillTitleRelationshipLatest action
HR 1958PACE Act of 2017Related billApr 5, 2017

Subjects

Assigned by the Library of Congress. Policy area: Finance and Financial Sector.

Text 1

Each version as it was printed, newest first.

  1. Apr 5, 2017Introduced in Senate

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Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.