92nd General Assembly
Summary of SB0049
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Senate Sponsors:
SYVERSON-WEAVER-CLAYBORNE-DONAHUE, DELEO, SHAW, JACOBS AND DILLARD.

House Sponsors:
LEITCH-MOFFITT-TURNER,ART-MAY-MATHIAS

Short description: 
LOC GOV HOUSING FINANCE ACT                                                

Synopsis of Bill as introduced:
        Creates the Local Government Housing Finance Act.  Gives counties      
   and  municipalities  the  power  to  acquire  or  to  originate   home      
   mortgages,  to  make  loans to lenders to make home mortgage loans, to      
   issue bonds  to  defray  costs  associated  with  the  acquisition  or      
   origination  of  home  mortgages,  to sell home mortgage loans, and to      
   perform other duties in connection  with  home  mortgages.    Provides      
   that bonds issued under the Act may contain certain covenants.              
   Effective immediately.                                                      
        SENATE AMENDMENT NO. 1.                                                
        Deletes a provision allowing Authorities to issue bonds under the      
   Local Government Housing Finance Act on behalf of other Authorities.        
 
Last action on Bill: PUBLIC ACT.............................. 92-0142

   Last action date: JUL-24-2001

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   1


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