HB4302Introduced in the House
INTEREST-PREPAYMENT PENALTY
Introduced by Daniel Didech, District 59
What does this bill do?
Plain-English breakdown
Writing a plain-English summary of this bill… this can take a few seconds the first time.
Official description
Amends the Interest Act. Provides that, whenever the rate of interest exceeds an annual percentage rate of 8% on any written contract, agreement or bond for deed providing for the installment purchase of residential real estate made primarily for personal, family, or household purposes (rather than for the installment purchase of residential real estate), or on any loan secured by a mortgage on residential real estate made primarily for personal, family, or household purposes (rather than on any loan secured by a mortgage on residential real estate), it shall be unlawful to provide for a prepayment penalty or other charge for prepayment.
Where it stands
Rule 19(a) / Re-referred to Rules Committee
March 27, 2026
How did lawmakers vote?
No recorded vote is available for this bill yet.
What do people think?
Citizen Voice
How would you vote on this bill?
An unofficial public opinion poll. It does not affect the bill or the official vote.
One response per device. Location is self-reported and not verified. Results are informal and not a scientific survey.
Bill history
Filed with the Clerk by Rep. Daniel Didech
First Reading
Referred to Rules Committee
Added Co-Sponsor Rep. Rick Ryan
Added Co-Sponsor Rep. Michael J. Kelly
Assigned to Financial Institutions and Licensing Committee
Rule 19(a) / Re-referred to Rules Committee
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