To amend the Consumer Credit Protection Act to provide for additional requirements for land installment contract transactions.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To amend the Consumer Credit Protection Act to provide for additional requirements for land installment contract transactions., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Housing, Technology.
Who Benefits and How
financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section S1: 1. Short title This Act may be cited as the Preserving Pathways to Homeownership Act of 2024.
- Section id9ef690bdfee44aa6bfc44682ad0b3cd5: 2. Land installment contracts The Consumer Credit Protection Act (15 U.S.C. 1601 et seq.) is amended by adding at the end the following: XLand installment...
- Section id8a4002978d764f08a6e13686a98bbe47: 1001. Findings and purposes Congress finds the following: Land installment contracts, when used to purchase a home, are a form of consumer credit transaction...
- Section id57cdb8c60daf42ee9b382837422d7769: 1002. Definitions In this title: The term covered land installment contract transaction means a sale of residential real property involving a land installment...
- Section id8c83bb2e154a472cb831ef291911fa5b: 1003. Governance of land installment contract transactions The States shall, not later than 2 years after the date of enactment of this title, enhance consumer...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To amend the Consumer Credit Protection Act to provide for additional requirements for land installment contract transactions., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Housing, Technology
Primary Purpose
This bill, To amend the Consumer Credit Protection Act to provide for additional requirements for land installment contract transactions., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
- financial institutions, investors, and borrowers
Identified Costs
- federal implementing agencies
- financial institutions, investors, and borrowers
Sponsors
Legislative Progress
IntroducedMs. Smith (for herself and Ms. Lummis) introduced the following …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "federal_implementing_agencies"
- → Federal agencies assigned duties by the bill
Key Definitions
Terms defined in this bill
an agreement under which— a seller agrees to sell an interest in real property to a purchaser
an agreement under which— a seller agrees to sell an interest in real property to a purchaser
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology