Confirmed Funds For Closing And Settlement Process
Summary
The bill modifies the closing and settlement procedure for real estate transactions to ensure that the funds intended to be used at closing have been: Received and deposited into a trust account at least one business day before the scheduled closing; and Confirmed as deposited and available for immediate disbursement upon the settlement and closing of the real estate transaction. The bill takes effect September 1, 2024. (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)
Bill status
in committee
1 of 4 stages cleared
Introduction
Jan 2023
Committee Review
Floor Vote
Governor
Introduced Jan 12, 2023
Last action Feb 9, 2023
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
1
Committee
1
Feb 9, 2023
Upper · Passed
Senate Committee on Business, Labor, & Technology Postpone Indefinitely
upper
Jan 12, 2023
Introduced
Introduced In Senate - Assigned to Business, Labor, & Technology
upper
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
KV
Kevin Van Winkle
RRepublican
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