90th General Assembly
Summary of HB1276
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House Sponsors:

Short description: 
MORTGAGE ESCROW ACCT INTEREST                                              

Synopsis of Bill as introduced:
        Amends the Mortgage Escrow  Account  Act.   Requires  a  mortgage      
   lender  to pay interest to the borrower on escrow accounts at the rate      
   the largest bank with its main banking premises in  Illinois  pays  on      
   standard savings accounts. Effective immediately.                           
          FISCAL NOTE (Dpt. Financial Institutions)                            
          HB1276 would have no fiscal impact on the Department.                
          STATE MANDATES FISCAL NOTE                                           
          In the opinion of DCCA, HB1276 fails to create a State mandate       
          under the State Mandates Act.                                        
Last action on Bill: SESSION SINE DIE

   Last action date: 99-01-12

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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