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Bill Sponsor
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Bills
House Bill 1958
115th Congress(2017-2018)
PACE Act of 2017
Introduced
Introduced
Introduced in House on Apr 5, 2017
Overview
Text
Introduced
Apr 5, 2017
Latest Action
Apr 5, 2017
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
1958
Congress
115
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
Sponsorship by Party
Democrat
Brad Sherman
California
Republican
Ed Royce
California
House Votes (0)
Senate Votes (0)
No House votes have been held for this bill.
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.

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.

Text (1)
Introduced in House
April 5, 2017
Related Bills (1)
Apr 05, 2017
Introduced in Senate
4
Sponsorship
Senate Bill 838
PACE Act of 2017
Introduced
Type
Related Bill
Related Bill
A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-Congress measures.
Identified By
CRS
Actions (2)
04/05/2017
Referred to the House Committee on Financial Services.
04/05/2017
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:36:03 PM
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