Sen. Kimberly A. Lightford
Filed: 3/23/2004
 
 

 




 

 		












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AMENDMENT TO SENATE BILL 2981




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

 
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on page 3, by replacing lines 34 and 35 with the following:
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"establish a procedure to designate and approve not-for-profit 
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corporations with offices in Illinois as agencies to assist 
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in"; and
 
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on page 4, by replacing lines 1 and 2 with the following:
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"under this paragraph shall assist, at the direction of the 
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Chairman, eligible mortgagors in completing the application 
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for assistance and, to the extent that the agency is willing 
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and able to do so, provide counseling."; and
 
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on page 4, line 24, after "Section.", by inserting the 
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following:
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"This assistance may include foreclosure intervention and 
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mortgage workout counseling."; and
 
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on page 5, line 24, after "insurance," by inserting "and"; and
 
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on page 5, by replacing lines 25 through 29 with the following:
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"insurance premiums. The initial payment by each agency shall 
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be an amount that makes the mortgage current, including 
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reasonable costs and reasonable attorney fees already incurred 
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by the mortgagee.
 


 






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    (2) Monthly assistance payments. The Authority shall make 
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monthly mortgage assistance"; and
 
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on page 5, line 34, by deleting "or designated"; and
 
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on page 5, line 35, by deleting "agency"; and
 
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on page 5, line 36, by deleting "or designated agency"; and
 
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on page 6, line 6, by changing "make" to "mail"; and
 
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on page 6, line 8, by deleting "or the designated agency"; and
 
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on page 6, line 14, by deleting "or designated agency"; and
 
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on page 6, line 23, by deleting "or designated agency"; and
 
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on page 6, line 25, by deleting "or designated agency"; and
 
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on page 7, immediately below line 1, by inserting the 
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following:
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    "(5) Rules; availability of funds; necessity.  Assistance 
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payments from the Fund may be made only according to rules 
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adopted by the Authority and are subject to the availability of 
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funds.  Payments may be made from the Fund only if it is not 
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otherwise possible to prevent a foreclosure."; and
 
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on page 7, line 4, by deleting "or designated agency"; and
 
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on page 7, line 6, by deleting "or designated agency"; and
 
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on page 7, line 7, by deleting "or designated agency"; and
 
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on page 7, line 12, by deleting "or designated agency"; and
 
 


 






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on page 7, line 16, after " Authority", by deleting "or"; and
 
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on page 7, line 17, by deleting "designated agency"; and
 
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on page 7, line 18, by deleting "or designated agency"; and
 
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on page 7, line 24, by deleting "or designated"; and
 
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on page 7, line 25, by deleting "agency"; and
 
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on page 7, line 27, after " Chairman", by deleting "or"; and
 
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on page 7, line 28, by deleting "designated agency"; and
 
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on page 8, line 9, by changing "30-year" to "20-year"; and
 
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on page 8, line 15, by deleting "or designated agency"; and
 
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on page 8, line 27, by deleting "or designated"; and
 
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on page 8, line 28, by deleting "agency"; and
 
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on page 9, line 26, after "amended" by inserting "by changing 
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Section 8h and"; and
 
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on page 9, immediately below line 29, by inserting the 
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following:
 
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    "(30 ILCS 105/8h)


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    Sec. 8h. Transfers to General Revenue Fund.  
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Notwithstanding any other
State law to the contrary, the 
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Director of the
Governor's Office of Management and Budget

may 
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from time to time direct the State Treasurer and Comptroller to 
 


 






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


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    In determining the available balance in a fund, the 
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Director of the
Governor's Office of Management and Budget

may 
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include receipts, transfers into the fund, and other
resources 
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anticipated to be available in the fund in that fiscal year.


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


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