Bill Detail: SB23-047

Title	Confirmed Funds For Closing And Settlement Process
Status	Senate Committee on Business, Labor, & Technology Postpone Indefinitely (02/09/2023)
Bill Subjects	Financial Services & Commerce
House Sponsors
Senate Sponsors	K. Van Winkle (R)
House Committee
Senate Committee	Business, Labor and Technology
Date Introduced	01/12/2023
Summary	The bill modifies the closing and settlement procedure for real estate transactions to ensure that the funds intended to be used at closing have been: • Received and deposited into a trust account at least one business day before the scheduled closing; and • Confirmed as deposited and available for immediate disbursement upon the settlement and closing of the real estate transaction. The bill takes effect September 1, 2024.
Committee Reports with Amendments	February 09, 2023: Senate Business, Labor, & Technology Committee Report February 09, 2023: Senate Business, Labor, & Technology Committee Report
Full Text	Full Text of Bill (pdf) (most recent)
Fiscal Notes	Fiscal Notes (06/28/2023) (most recent)
Additional Bill Documents	Bill Documents Including: Past bill versions Past fiscal notes Committee activity and documents Bill History
Lobbyists	Lobbyists
Audio
Votes	House and Senate Votes
Vote Totals	Vote Totals by Party