Escrow Interest Act

Summary

Escrow Interest Act - Requires any person who holds a first lien on single-family residential real property, on stock in a residential cooperative housing corporation, or on a residential manufactured home and who requires funds to be held in escrow for purposes of paying any applicable taxes or insurance, to place such funds in an account which is insured by the Federal Deposit Insurance Corporation, the Federal Savings and Loan Insurance Corporation, or the National Credit Union Administration and which pays interest at a rate of not less than five and one-quarter percent.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 17 November 1981

   Introduced

   Referred to House Committee on Banking, Finance and Urban Affairs.

   Source: IntroReferral

2. 17 November 1981

   Introduced

   Introduced in House

   Source: IntroReferral

3. 17 November 1981

   Introduced

   Introduced in House

   Source: IntroReferral

4. 1 December 1981

   Referred

   Referred to Subcommittee on Financial Institutions Supervision, Regulation and Insurance.

   Source: Committee

Votes

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Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 17 November 1981

  Open at official source

Sponsors

• Rep. Annunzio, Frank [D-IL-11] · D · Sponsor
• · hsba00 · Standing

Related records

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