92nd General Assembly
Summary of HB3140
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House Sponsors:
MCCARTHY.

Senate Sponsors:
MOLARO

Short description: 
HOME EQUTY PROG-TRANSFERS                                                  

Synopsis of Bill as introduced:
        Amends the Home Equity Assurance Act.   Provides  that  territory      
   may  be  transferred  from an existing home equity program to another,      
   contiguous program.  Provides that the transfer must be initiated by a      
   petition signed by not less than 10% of the total number of registered      
   voters who are eligible to sign the petition who are residing  in  the      
   territory  to  be transferred and either (i) a resolution or ordinance      
   of the governing commission of the program to which the territory will      
   be transferred or (ii) a petition signed by not less the  10%  of  the      
   total  number  of  registered voters eligible to sign the petition who      
   are residing in the geographic  area  of  the  program  to  which  the      
   territory   will   be  transferred.  Provides  that  the  question  of      
   transferring the territory must be approved by a referendum.  Provides      
   that members in the transferred territory become members of the             
   program to which the territory was transferred. Provides that               
   registration fees must be waived for transferred members. Provides          
   that program appraisals of a transferred member's property must be          
   accepted by the program to which the territory was transferred.             
   Provides for the appointment of additional commissioners who are            
   residents of the transferred territory to the governing commission of       
   the program to which the territory was transferred.                         
 
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 



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