Full Text of HB4050 94th General Assembly
HB4050sam001 94TH GENERAL ASSEMBLY
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Sen. Jacqueline Y. Collins
Filed: 5/29/2005
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09400HB4050sam001 |
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LRB094 11549 DRJ 47375 a |
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| AMENDMENT TO HOUSE BILL 4050
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| AMENDMENT NO. ______. Amend House Bill 4050 on page 11, by | 3 |
| replacing lines 24 through 34 with the following:
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| " "Pilot program area" means all areas designated as such by | 5 |
| the Department due to the high rate of foreclosure on | 6 |
| residential home mortgages that is primarily the result of | 7 |
| predatory lending practices. The Department shall designate | 8 |
| the pilot program area within 30 days after the effective date | 9 |
| of this amendatory Act of the 94th General Assembly. "; and | 10 |
| on page 12, by deleting lines 20 through 31; and | 11 |
| on page 12, line 32, by changing " (d) " to " (c) "; and | 12 |
| on page 13, line 19, by changing " (e) " to " (d) "; and | 13 |
| on page 13, line 20, by changing " (d) " to " (c) "; and | 14 |
| on page 13, line 33, by changing " (f) " to " (e) "; and | 15 |
| on page 14, line 2, by changing " (d) " to " (c) "; and | 16 |
| on page 14, line 6, by changing " (e) " to " (d) "; and | 17 |
| on page 14, line 7, by changing " (g) " to " (f) "; and |
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09400HB4050sam001 |
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LRB094 11549 DRJ 47375 a |
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| on page 14, line 11, by changing " (h) " to " (g) "; and | 2 |
| on page 14, line 25, by changing " (i) " to " (h) "; and | 3 |
| on page 15, between lines 1 and 2, by inserting the following: | 4 |
| " (i) Nothing in this Article is intended to prevent a | 5 |
| borrower from making his or her own decision as to whether to | 6 |
| proceed with a transaction. "; and | 7 |
| on page 15, immediately below line 4, by inserting the | 8 |
| following: | 9 |
| " (k) Not later than one year after the Department | 10 |
| designates the pilot program area and annually thereafter | 11 |
| during the existence of the pilot program, the Department shall | 12 |
| report to the Governor and to the General Assembly concerning | 13 |
| its administration and the effectiveness of the pilot | 14 |
| program. "; and | 15 |
| on page 16, by deleting lines 12 and 13; and | 16 |
| on page 16, line 14, by changing " (9) " to " (8) "; and | 17 |
| on page 16, line 17, by changing " (10) " to " (9) "; and | 18 |
| on page 16, line 20, by changing " (11) " to " (10) ".
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