In CommitteeFiled Feb 5, 2026
Sponsor: Amy Elik
Latest Action
Referred to Rules Committee
Feb 10, 2026
Summary
The bill changes the definition of “seller” so the Act only applies to individuals or entities that own real estate and sign more than three installment sales contracts for residential property within any 12‑month stretch. Contracts with sellers who do not meet that threshold are no longer covered, and any related legal entities owned by the same party count as the same seller. The change takes effect immediately.
AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.
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