Bill Text: GA HB110 | 2011-2012 | Regular Session | Amended

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Mortgages and liens; vacant property registry; provisions

Spectrum: Partisan Bill (Republican 7-0)

Status: (Passed) 2012-07-01 - Effective Date [HB110 Detail]

Download: Georgia-2011-HB110-Amended.html

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12 AM 21 3807

NOT GERMANE
Senators Fort of the 39th and Jones of the 10th offered the following amendment:

Amend the Senate Banking and Financial Institutions Committee substitute to HB 110 (LC 39 0096S) by inserting after "rights;" on line 6 the following:
to provide that any funds received pursuant to a settlement among the states, the federal government, and financial institutions relative to alleged mortgage fraud shall be expended only for the purposes of enhancing mortgage fraud detection and prosecution and foreclosure relief; to authorize the Department of Community Affairs to contract with nonprofit organizations;

By replacing "a new Code section" with "two new Code sections" on lines 11 and 12.

By deleting the quotation mark at the end of line 127 and inserting between lines 127 and 128 the following:

44-14-15.

Fifty percent of any funds received by the state pursuant to a settlement among the states, the federal government, and financial institutions relative to alleged mortgage fraud shall be expended solely for the purposes of enhancing mortgage fraud detection and prosecution and foreclosure relief. The Department of Community Affairs is authorized to contract with nonprofit organizations to provide foreclosure relief programs as directed by rule or regulation."