MANUFACTURED HOMES-REFINANCING
Summary
Amends the Residential Real Property Disclosure Act. Provides that a lender, or agent of a lending company, when offering terms for a mortgage note for the purchase of a manufactured home, shall disclose: (1) any affiliation between the landlord and the lending company; (2) that the loan is a chattel loan; (3) that the terms of a chattel loan prohibit refinancing; and (4) any other reason that prohibits refinancing.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2020
Committee Review
Floor Vote
Governor
Introduced Feb 14, 2020
Last action May 15, 2020
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
18
Key actions
2
Committee
6
Amendments
1
Apr 12, 2020
Committee
Pursuant to Senate Rule 3-9(b) / Referred to Assignments
upper
Mar 5, 2020
Upper · Passed
Senate Floor Amendment No. 1 Pursuant to Senate Rule 3-8(b-1), this amendment will remain in the Committee on Assignments
upper
Mar 4, 2020
Committee
Senate Floor Amendment No. 1 Referred to Assignments
upper
Mar 4, 2020
Introduced
Senate Floor Amendment No. 1 Filed with Secretary by Sen. Laura M. Murphy
upper
Mar 4, 2020
Upper · Passed
Do Pass Judiciary; 009-000-000
upper
Feb 25, 2020
Committee
Assigned to Judiciary
upper
Feb 14, 2020
Committee
Referred to Assignments
upper
0 primary · 4 co-sponsors
Sponsors
No sponsor information available.
Ask Maddy
·
AI policy assistant
Ask Maddy about SB 3437
Scope: IL
Hi! I can help you understand SB 3437. What would you like to know?
Try one of these
i
Maddy answers using official bill text and legislative records. Always verify before sharing.
Sources cited inline