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Bill > HB2497
KS HB2497
KS HB2497Prohibiting the assessment of a prepayment penalty against any party more than six months after the execution of a note evidencing a home loan made primarily for personal, family or household purposes secured by a real estate mortgage.
summary
Introduced
01/21/2026
01/21/2026
In Committee
02/19/2026
02/19/2026
Crossed Over
02/18/2026
02/18/2026
Passed
Dead
Introduced Session
Potential new amendment
2025-2026 Regular Session
Bill Summary
AN ACT concerning financial institutions; relating to loans; prohibiting the assessment of a prepayment penalty against any party more than six months after the execution of a note evidencing a home loan made primarily for personal, family or household purposes secured by a real estate mortgage; amending K.S.A. 2025 Supp. 16-207 and repealing the existing section.
AI Summary
This bill prohibits lenders from charging a prepayment penalty, which is a fee for paying off a loan early, on home loans that are primarily for personal, family, or household use and are secured by a real estate mortgage, if the prepayment is made more than six months after the loan's note was signed. The bill amends an existing Kansas law (K.S.A. 2025 Supp. 16-207) to add this restriction, ensuring that borrowers have a six-month window after taking out such a loan to pay it off without incurring a prepayment penalty.
Committee Categories
Business and Industry, Labor and Employment
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Financial Institutions and Pensions (House)
Last Action
Senate Referred to Committee on Financial Institutions and Insurance (on 02/19/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://kslegislature.gov/li/b2025_26/measures/hb2497/ |
| House Committee on Financial Institutions and Pensions Report | https://kslegislature.gov/li/b2025_26/measures/documents/cr_2026_hb2497_h_3359.pdf |
| Analysis - Supplemental Note: As introduced | https://kslegislature.gov/li/b2025_26/measures/documents/supp_note_hb2497_00_0000.pdf |
| Fiscal Note - Ficsal Note: As introduced | https://kslegislature.gov/li/b2025_26/measures/documents/fisc_note_hb2497_00_0000.pdf |
| BillText | https://kslegislature.gov/li/b2025_26/measures/documents/hb2497_00_0000.pdf |
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