KLS Keeping Law Simple Legislation in plain English

Straight-ahead summaries built from the official bill text. We keep the source links front and center and leave the decision up to you.

Back to Connecticut

SB00217 • 2026

AN ACT REQUIRING MORTGAGEES TO ACCEPT MORTGAGE PAYMENTS TENDERED ON A MONTHLY, SEMIMONTHLY OR BIWEEKLY BASIS.

AN ACT REQUIRING MORTGAGEES TO ACCEPT MORTGAGE PAYMENTS TENDERED ON A MONTHLY, SEMIMONTHLY OR BIWEEKLY BASIS.

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor
Banking Committee
Last action
2026-03-23
Official status
File Number 121
Effective date
Not listed

Plain English Breakdown

The official source does not specify the types of properties covered by this law. The candidate explanation includes an unsupported claim about property types.

Law for Mortgage Payment Options

This law requires mortgage lenders to accept payments from borrowers on a monthly, semimonthly, or biweekly basis starting October 1, 2026.

What This Bill Does

  • Requires mortgagees (lenders) to accept payments from mortgagors (borrowers) in monthly installments.
  • Allows for payment options of twice per month (semimonthly) and every two weeks (biweekly).
  • Defines 'biweekly' as occurring every two weeks and 'semimonthly' as happening twice each month.

Who It Names or Affects

  • Mortgage lenders (mortgagees)
  • Homeowners who are borrowers (mortgagors)

Terms To Know

Biweekly
Every two weeks
Semimonthly
Twice each month

Limits and Unknowns

  • The law does not specify any financial impact on the state or municipalities.
  • It only applies to mortgage loans made after October 1, 2026.

Bill History

  1. 2026-03-23 LCO

    Reported Out of Legislative Commissioners' Office

  2. 2026-03-23 Connecticut General Assembly

    Favorable Report, Tabled for the Calendar, Senate

  3. 2026-03-23 Connecticut General Assembly

    Senate Calendar Number 94

  4. 2026-03-23 LCO

    File Number 121

  5. 2026-03-16 LCO

    Referred to Office of Legislative Research and Office of Fiscal Analysis 03/23/26 12:00 PM

  6. 2026-03-10 BA

    Joint Favorable

  7. 2026-03-10 LCO

    Filed with Legislative Commissioners' Office

  8. 2026-02-19 Connecticut General Assembly

    Public Hearing 02/24

  9. 2026-02-18 Connecticut General Assembly

    Referred to Joint Committee on Banking

Official Summary Text

To require mortgagees to accept mortgage payments tendered on a monthly, semimonthly or biweekly basis.

Current Bill Text

Read the full stored bill text 
Senate
SB217 / File No. 121 1

General Assembly File No. 121
February Session, 2026 Senate Bill No. 217

Senate, March 23, 2026

The Committee on Banking reported through SEN. MILLER of
the 27th Dist., Chairperson of the Committee on the part of the
Senate, that the bill ought to pass.

AN ACT REQUIRING MORTGAGEES TO ACCEPT MORTGAGE
PAYMENTS TENDERED ON A MONTHLY, SEMIMONTHLY OR
BIWEEKLY BASIS.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:

Section 1. Subsection (i) of section 49 -8a of the general statutes is 1
repealed and the following is substituted in lieu thereof (Effective October 2
1, 2026): 3
(i) (1) A mortgagee shall accept, as payment tendered for satisfaction 4
or partial satisfaction of a mortgage loan, a bank check, certified check, 5
attorney's clients' funds account check, title insurance company check, 6
wire transfer or any other form of payment authorized under federal 7
law. 8
(2) For mortgage loans made on or after October 1, 2026, a mortgagee 9
shall accept payment tendered by a mortgagor on a monthly, 10
semimonthly or biweekly basis. For purposes of this subdivision, 11
"biweekly" means occurring every two weeks and "semimonthly" 12
SB217 File No. 121

SB217 / File No. 121 2

means occurring twice each month. 13
This act shall take effect as follows and shall amend the following
sections:

Section 1 October 1, 2026 49-8a(i)

BA Joint Favorable

SB217 File No. 121

SB217 / File No. 121 3

The following Fiscal Impact Statement and Bill Analysis are prepared for the benefit of the members of
the General Assembly, solely for purposes of information, summarization and explanation and do not
represent the intent of the General Assembly or either chamber thereof for any purpose. In general,
fiscal impacts are based upon a variety of informational sources, including the analyst’s professional
knowledge. Whenever applicable, agency data is consulted as part of the analysis, however final
products do not necessarily reflect an assessment from any specific department.

OFA Fiscal Note

State Impact: None
Municipal Impact: None
Explanation
The bill requires mortgagees to accept mortgage payments tendered
on a monthly, semimonthly or biweekly basis and results in no fiscal
impact to the state as they are not parties to mortgage loans.

SB217 File No. 121

SB217 / File No. 121 4

OLR Bill Analysis
SB 217

AN ACT REQUIRING MORTGAGEES TO ACCEPT MORTGAGE
PAYMENTS TENDERED ON A MONTHLY, SEMIMONTHLY OR
BIWEEKLY BASIS.

SUMMARY
This bill requires, for any mortgage loan made beginning October 1,
2026, the mortgagee (mortgage lender, assignee, or servicer) to accept
the mortgagor’s (borrower’s) payments on a monthly, semimonthly, or
biweekly basis.
Under the bill, the requirement applies to loans securing one-to-four
family residential properties in the state, including units in common
interest communities. Semi-monthly payments happen twice a month
and biweekly payments happen every two weeks.
EFFECTIVE DATE: October 1, 2026
COMMITTEE ACTION
Banking Committee
Joint Favorable
Yea 13 Nay 0 (03/10/2026)