summary
Introduced
12/06/2018
12/06/2018
In Committee
12/06/2018
12/06/2018
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
115th Congress
Bill Summary
BUILD Act Building Up Independent Lives and Dreams Act
AI Summary
This bill, the Building Up Independent Lives and Dreams Act (BUILD Act), aims to provide regulatory relief to charitable organizations that offer 0% interest residential mortgage loans primarily for charitable purposes. The bill amends the Truth in Lending Act and the Real Estate Settlement Procedures Act to allow these charitable organizations to use specific disclosure forms, including the Loan Model Form H2, in lieu of the standard disclosure requirements. The bill directs the Director of the Bureau of Consumer Financial Protection to issue regulations to implement these amendments within 180 days of the bill's enactment.
Committee Categories
Housing and Urban Affairs
Sponsors (2)
Last Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 12/06/2018)
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://www.congress.gov/bill/115th-congress/senate-bill/3731/all-info |
| BillText | https://www.congress.gov/115/bills/s3731/BILLS-115s3731is.pdf |
| Bill | https://www.congress.gov/115/bills/s3731/BILLS-115s3731is.pdf.pdf |
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