SB25-016
Updating Escrow Disbursement Practices
| Type | Bill |
|---|---|
| Session | 2025 Regular Session |
| Subjects |
Concerning updating the framework governing escrow disbursements for real estate transactions.
Bill Summary:
The act modifies the types of funds that are available for immediate withdrawal as a matter of right in real estate transactions by:
- Limiting wire transfer funds to only those funds that are wired through a funds-transfer system operated by the federal reserve or the Clearing House Payments Company; and
- Adding a real-time or an instant payment made through a funds-transfer service operated by the federal reserve or the Clearing House Payments Company's real-time payments system.
(Note: This summary applies to this bill as enacted.)
Related Documents & Information
| Activity | Vote | Documents |
|---|---|---|
| Adopt amendment L.005 (Attachment C). | The motion passed without objection. | Vote summary |
| Refer Senate Bill 25-016, as amended, to the Committee of the Whole. | The motion passed on a vote of 13-0. | Vote summary |
| Activity | Vote | Documents |
|---|---|---|
| Adopt amendment L.002 (Attachment C) | The motion passed without objection. | Vote summary |
| Refer Senate Bill 25-016, as amended, to the Committee of the Whole. | The motion passed on a vote of 7-0. | Vote summary |
| Date | Calendar | Motion | Vote | Vote Document |
|---|---|---|---|---|
| 03/17/2025 | House Amendments | REPASS |
34
AYE
0
NO
0
OTHER
|
Vote record |
| 03/17/2025 | House Amendments | CONCUR |
34
AYE
0
NO
0
OTHER
|
Vote record |
| 02/06/2025 | Third Reading | BILL |
31
AYE
0
NO
4
OTHER
|
Vote record |
| Date | Calendar | Motion | Vote | Vote Document |
|---|---|---|---|---|
| 03/13/2025 | Third Reading | BILL |
62
AYE
1
NO
2
OTHER
|
Vote record |
| Date | Location | Action |
|---|---|---|
| 03/26/2025 | Governor | Governor Signed |
| 03/20/2025 | Governor | Sent to the Governor |
| 03/20/2025 | House | Signed by the Speaker of the House |
| 03/20/2025 | Senate | Signed by the President of the Senate |
| 03/17/2025 | Senate | Senate Considered House Amendments - Result was to Concur - Repass |
| 03/13/2025 | House | House Third Reading Passed - No Amendments |
| 03/12/2025 | House | House Second Reading Special Order - Passed with Amendments - Committee |
| 03/10/2025 | House | House Committee on Finance Refer Amended to House Committee of the Whole |
| 02/06/2025 | House | Introduced In House - Assigned to Finance |
| 02/06/2025 | Senate | Senate Third Reading Passed - No Amendments |
| 02/05/2025 | Senate | Senate Second Reading Passed with Amendments - Committee, Floor |
| 02/03/2025 | Senate | Senate Second Reading Laid Over to 02/05/2025 - No Amendments |
| 01/31/2025 | Senate | Senate Second Reading Laid Over Daily - No Amendments |
| 01/28/2025 | Senate | Senate Committee on Finance Refer Amended to Senate Committee of the Whole |
| 01/08/2025 | Senate | Introduced In Senate - Assigned to Finance |
Prime Sponsor
Sponsor
(None)
| Effective Date | Chapter # | Title | Documents |
|---|---|---|---|
| 08/06/2025 | 26 | Updating Escrow Disbursement Practices |