PACE Act of 2017

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.

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 5 April 2017

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 5 April 2017

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• Introduced in Senate

  summary · EN · 5 April 2017

  Open at official source

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