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ID H0703
Bill
Status
4/5/2012
Primary Sponsor
Appropriations Committee
Click for details
AI Summary
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Transfer $500,000 from the General Fund to the Consumer Protection Fund upon receipt of an estimated $13,300,000 in settlement proceeds from the March 12, 2012 National Mortgage Settlement Agreement.
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Appropriate $50,000 from the Consumer Protection Fund to the Attorney General for July 1, 2011 through June 30, 2013 to assist Idaho homeowners in understanding foreclosure laws, mortgage servicing standards, and modification programs.
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Appropriate $120,000 to the Idaho State Bar's Volunteer Legal Program for pro bono representation to homeowners facing foreclosure and legal rights education.
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Appropriate $120,000 to Idaho Legal Aid Services to help low-income families negotiate loan modifications, obtain deficiency waivers, and make sound financial decisions.
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Appropriate $110,000 and $100,000 from the Consumer Protection Fund for mortgage delinquency counseling, home buyer education, rental housing assistance, and foreclosure-to-housing transition services.
Legislative Description
Relates to the National Mortgage Settlement Agreement and appropriates and transfers $500,000 from the General Fund to the Consumer Protection Fund upon receipt of an estimated $13.3 million in settlement proceeds provided for in the March 12, 2012 National Mortgage Settlement Agreement and remitted to the General Fund; contingent upon receipt of those settlement proceeds, an additional $500,000 is appropriated from the Consumer Protection Fund to the Attorney General to help distressed Idaho homeowners with assistance, counseling, and legal aid services.
ATTORNEY GENERAL
Last Action
Governor signed Session Law Chapter 338 Effective: In full force & effect after passage and approval of National Mortgage Settlement Agreement & receipt of funds; Section 7 null & void if funds not received by 6/30/12
4/5/2012