SB2981sam001 93RD GENERAL ASSEMBLY

Sen. Kimberly A. Lightford

Filed: 3/23/2004

09300SB2981sam001 LRB093 19407 BDD 48909 a

AMENDMENT TO SENATE BILL 2981

AMENDMENT NO. ______. Amend Senate Bill 2981 as follows:

on page 3, by replacing lines 34 and 35 with the following: "establish a procedure to designate and approve not-for-profit corporations with offices in Illinois as agencies to assist in"; and

on page 4, by replacing lines 1 and 2 with the following: "under this paragraph shall assist, at the direction of the Chairman, eligible mortgagors in completing the application for assistance and, to the extent that the agency is willing and able to do so, provide counseling."; and

on page 4, line 24, after "Section.", by inserting the following: "This assistance may include foreclosure intervention and mortgage workout counseling."; and

on page 5, line 24, after "insurance," by inserting "and"; and

on page 5, by replacing lines 25 through 29 with the following: "insurance premiums. The initial payment by each agency shall be an amount that makes the mortgage current, including reasonable costs and reasonable attorney fees already incurred by the mortgagee.

(2) Monthly assistance payments. The Authority shall make monthly mortgage assistance"; and

on page 5, line 34, by deleting "or designated"; and

on page 5, line 35, by deleting "agency"; and

on page 5, line 36, by deleting "or designated agency"; and

on page 6, line 6, by changing "make" to "mail"; and

on page 6, line 8, by deleting "or the designated agency"; and

on page 6, line 14, by deleting "or designated agency"; and

on page 6, line 23, by deleting "or designated agency"; and

on page 6, line 25, by deleting "or designated agency"; and

on page 7, immediately below line 1, by inserting the following:

"(5) Rules; availability of funds; necessity. Assistance payments from the Fund may be made only according to rules adopted by the Authority and are subject to the availability of funds. Payments may be made from the Fund only if it is not otherwise possible to prevent a foreclosure."; and

on page 7, line 4, by deleting "or designated agency"; and

on page 7, line 6, by deleting "or designated agency"; and

on page 7, line 7, by deleting "or designated agency"; and

on page 7, line 12, by deleting "or designated agency"; and

on page 7, line 16, after " Authority", by deleting "or"; and

on page 7, line 17, by deleting "designated agency"; and

on page 7, line 18, by deleting "or designated agency"; and

on page 7, line 24, by deleting "or designated"; and

on page 7, line 25, by deleting "agency"; and

on page 7, line 27, after " Chairman", by deleting "or"; and

on page 7, line 28, by deleting "designated agency"; and

on page 8, line 9, by changing "30-year" to "20-year"; and

on page 8, line 15, by deleting "or designated agency"; and

on page 8, line 27, by deleting "or designated"; and

on page 8, line 28, by deleting "agency"; and

on page 9, line 26, after "amended" by inserting "by changing Section 8h and"; and

on page 9, immediately below line 29, by inserting the following:

"(30 ILCS 105/8h)

Sec. 8h. Transfers to General Revenue Fund. Notwithstanding any other State law to the contrary, the Director of the Governor's Office of Management and Budget may from time to time direct the State Treasurer and Comptroller to transfer a specified sum from any fund held by the State Treasurer to the General Revenue Fund in order to help defray the State's operating costs for the fiscal year. The total transfer under this Section from any fund in any fiscal year shall not exceed the lesser of 8% of the revenues to be deposited into the fund during that year or 25% of the beginning balance in the fund. No transfer may be made from a fund under this Section that would have the effect of reducing the available balance in the fund to an amount less than the amount remaining unexpended and unreserved from the total appropriation from that fund for that fiscal year. This Section does not apply to any funds that are restricted by federal law to a specific use or to any funds in the Motor Fuel Tax Fund, the Emergency Mortgage Assistance Fund, or the Hospital Provider Fund. Notwithstanding any other provision of this Section, the total transfer under this Section from the Road Fund or the State Construction Account Fund shall not exceed 5% of the revenues to be deposited into the fund during that year.

In determining the available balance in a fund, the Director of the Governor's Office of Management and Budget may include receipts, transfers into the fund, and other resources anticipated to be available in the fund in that fiscal year.

The State Treasurer and Comptroller shall transfer the amounts designated under this Section as soon as may be practicable after receiving the direction to transfer from the Director of the Governor's Office of Management and Budget.

(Source: P.A. 93-32, eff. 6-20-03; 93-659, eff. 2-3-04.)".