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KS HB2497

Bill

Official Source

Status

Engrossed

2/18/2026

Primary Sponsor

Financial Institutions and Pensions

Click for details

Origin

House of Representatives

2025-2026 Regular Session

AI Summary

  • Prohibits lenders from charging prepayment penalties on home loans made primarily for personal, family, or household purposes more than six months after the note is executed
  • Applies specifically to loans secured by real estate mortgages
  • Narrows existing Kansas law by limiting the prepayment penalty prohibition to consumer home loans rather than all home loans secured by real estate
  • Amends K.S.A. 2025 Supp. 16-207, which also caps interest rates at 15% per annum for most financial instruments
  • Takes effect upon publication in the Kansas statute book

Legislative Description

Prohibiting the assessment of a prepayment penalty against any party more than six months after the execution of a note evidencing a home loan made primarily for personal, family or household purposes secured by a real estate mortgage.

Last Action

Senate Hearing: Wednesday, March 4, 2026, 9:30 AM Room 546-S

3/4/2026

Committee Referrals

Financial Institutions and Insurance2/19/2026
Financial Institutions and Pensions1/21/2026

Full Bill Text

No bill text available