# Rhode Island S3073: AN ACT RELATING TO PROPERTY -- MORTGAGES OF REAL PROPERTY . Rhode Island S3073, AN ACT RELATING TO PROPERTY -- MORTGAGES OF REAL PROPERTY ., is a 2026 Regular Session Senate bill sponsored by Robert Britto (Democratic); status became law, last action 2026-06-26 (Effective without Governor's signature — Chapter 280); PRIA reads it as touching household money (as of 2026-11-01). - Canonical: https://policyrisk.com/state-bill/RI-S3073-2026 - As of: 2026-11-01 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: Rhode Island S3073 - State: Rhode Island - Session: 2026 Regular Session - Title: AN ACT RELATING TO PROPERTY -- MORTGAGES OF REAL PROPERTY . - Status: became law - Chamber: Senate - Introduced: 2026-03-13 - Last action: 2026-06-26, Effective without Governor's signature — Chapter 280 - Sponsor: Robert Britto (Democratic) - Cosponsors: 1 - Touches household money: yes - Roll calls: 4 (169 yes, 0 no in all) - Economic provisions PRIA read: 3 ## Summary No summary available. ## Bill overview: provisions PRIA read - Homeowners get limits on prepayment fees: benefit, medium. If you have an owner-occupied Rhode Island home with up to four units, you pay no prepayment penalty for a full payoff after one year. In the first year, any prepayment charge is capped at 2% of the payoff balance. If interest or other charges were prepaid in your loan amount, the lender must rebat… - Prepayment fees not treated as interest: cost, low. The law says prepayment penalties under this section are not treated as interest under state law. This changes how those fees are handled legally. It does not change the separate caps and timelines on prepayment charges set in this law. - Limited penalties on some nonpurchase mortgages: mixed, low. For nonpurchase-money mortgages on owner-occupied homes with up to four units, a lender can charge a prepayment penalty only if it is clearly disclosed in writing and you agree. No penalty is allowed on any prepayment made more than 60 months after the loan date. Any lender that offers such a loan… ## Sponsors and cosponsors - Sponsor: Robert Britto (Democratic), Senate - Cosponsor: Mark P. McKenney (Democratic), Senate ## Roll call votes | Date | Chamber | Motion | Result | Yes | No | Other | | --- | --- | --- | --- | --- | --- | --- | | 2026-06-08 | House | MORTGAGES OF REAL PROPERTY PASSAGE AS AMENDED IN CONCURRENCE | pass | 70 | 0 | | | 2026-05-07 | Senate | RELATING TO PROPERTY -- MORTGAGES OF REAL PROPERTY Approval of Amendment | pass | 32 | 0 | | | 2026-05-07 | Senate | RELATING TO PROPERTY -- MORTGAGES OF REAL PROPERTY Approval of Amendment | pass | 32 | 0 | | | 2026-05-07 | Senate | RELATING TO PROPERTY -- MORTGAGES OF REAL PROPERTY Passage as Amended | pass | 35 | 0 | | ## Actions (14) - 2026-06-26: Effective without Governor's signature — Chapter 280 (Governor) - 2026-06-18: Transmitted to Governor (Governor) - 2026-06-08: House passed as amended in concurrence (House) - 2026-06-05: Placed on House Calendar (06/08/2026) (House) - 2026-06-03: Committee recommends passage as amended in concurrence - 2026-05-29: Scheduled for consideration (06/03/2026) - 2026-05-08: Referred to House Judiciary (House) - 2026-05-07: Senate passed as amended (floor amendment) (Senate) - 2026-04-29: Placed on Senate Calendar (05/07/2026) (Senate) - 2026-04-28: Committee recommends passage - 2026-04-24: Scheduled for consideration (04/28/2026) - 2026-04-14: Committee recommended measure be held for further study - 2026-04-10: Scheduled for hearing and/or consideration (04/14/2026) - 2026-03-13: Introduced, referred to Senate Commerce (Senate) ## Bill text - S3073 - As Amended, 2026-03-13: [HTML](https://webserver.rilegislature.gov/BillText26/SenateText26/S3073aa.htm), [PDF](https://webserver.rilegislature.gov/BillText26/SenateText26/S3073aa.pdf) - S3073 - As Introduced, 2026-03-13: [HTML](https://webserver.rilegislature.gov/BillText26/SenateText26/S3073.htm), [PDF](https://webserver.rilegislature.gov/BillText26/SenateText26/S3073.pdf) ## Related bills - S3047: AN ACT RELATING TO COURTS AND CIVIL PROCEDURE -- PROCEDURE GENERALLY -- DISTRICT COURT PRACTICE . (became law) - H8605: JOINT RESOLUTION MAKING AN APPROPRIATION TO PAY CERTAIN CLAIMS . (became law) - H8580: AN ACT RELATING TO THE NORTH TIVERTON FIRE DISTRICT . (became law) - H8586: AN ACT RELATING TO HIGHWAYS -- RHODE ISLAND TURNPIKE AND BRIDGE AUTHORITY . (became law) - H8525: AN ACT RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES . (became law) - H8506: AN ACT RELATING TO TOWNS AND CITIES -- RELATING TO CENTRAL FALLS PENSION PLAN . (became law) ## Sources - [S3073 - As Amended (HTML)](https://webserver.rilegislature.gov/BillText26/SenateText26/S3073aa.htm) - [S3073 - As Amended (PDF)](https://webserver.rilegislature.gov/BillText26/SenateText26/S3073aa.pdf) - [S3073 - As Introduced (HTML)](https://webserver.rilegislature.gov/BillText26/SenateText26/S3073.htm) - [S3073 - As Introduced (PDF)](https://webserver.rilegislature.gov/BillText26/SenateText26/S3073.pdf) ## Related - [S3047: AN ACT RELATING TO COURTS AND CIVIL PROCEDURE -- PROCEDURE GENERALLY -- DISTRIC…](https://policyrisk.com/state-bill/RI-S3047-2026) - [H8605: JOINT RESOLUTION MAKING AN APPROPRIATION TO PAY CERTAIN CLAIMS .](https://policyrisk.com/state-bill/RI-H8605-2026) - [H8580: AN ACT RELATING TO THE NORTH TIVERTON FIRE DISTRICT .](https://policyrisk.com/state-bill/RI-H8580-2026) - [H8586: AN ACT RELATING TO HIGHWAYS -- RHODE ISLAND TURNPIKE AND BRIDGE AUTHORITY .](https://policyrisk.com/state-bill/RI-H8586-2026) - [H8525: AN ACT RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES .](https://policyrisk.com/state-bill/RI-H8525-2026) - [H8506: AN ACT RELATING TO TOWNS AND CITIES -- RELATING TO CENTRAL FALLS PENSION PLAN .](https://policyrisk.com/state-bill/RI-H8506-2026) - [Rhode Island bills](https://policyrisk.com/states/rhode-island/bills) - [Rhode Island state hub](https://policyrisk.com/states/rhode-island) - [All state legislation](https://policyrisk.com/state-bills) Source: PRIA, https://policyrisk.com/state-bill/RI-S3073-2026 (as of 2026-11-01).