INSTALLMENT SALES ACT
Sponsored By: Amy Elik (Republican)
In Committee
Summary
Amends the Installment Sales Contract Act. Changes the definition of "seller" under the Act to mean an individual or legal entity that possesses a legal or beneficial interest in real estate and that enters into an installment sales contract more than 3 times during a continuous 12-month period to sell residential real estate. Provides that the Installment Sales Contract Act applies only to contracts entered into once an individual or legal entity has qualified as a seller. Effective immediately.
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & Cosponsors
Sponsor
Amy Elik
Republican • House
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
Actions Timeline
Referred to Rules Committee
2/10/2026HouseFirst Reading
2/10/2026HouseFiled with the Clerk by Rep. Amy Elik
2/5/2026House
Bill Text
Introduced
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