INSTALLMENT SALES ACT
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.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2026
Committee Review
Floor Vote
Governor
Introduced Feb 5, 2026
Last action Feb 10, 2026
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
3
Key actions
0
Committee
1
Feb 10, 2026
Committee
Referred to Rules Committee
lower
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Amy Elik
RRepublican
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