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Committee approves licensing framework for shared-equity home financing
Summary
Lawmakers approved amendment A03014 and passed House Bill 21 20 as amended to create licensing, disclosure and enforcement rules for shared-equity (shared appreciation) home financing, including a $5,000 initial license fee and $2,500 annual renewal for providers.
The Commerce Committee unanimously approved an amendment and then passed House Bill 21 20 as amended, establishing a regulatory framework for shared-equity agreements in residential property transactions.
Representative Torczyk offered amendment A03014, which a staff summary described as a near-complete rewrite of the original bill that would add a new Chapter 63 to Title 7 (Banks and Banking). Jen summarized the measure’s provisions: licensing requirements and application procedures for shared-equity service…
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