Sen. Jacqueline Y. Collins
Filed: 5/29/2005
 
 

 




 

 		












09400HB4050sam001

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 
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replacing lines 24 through 34 with the following:

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    ""Pilot program area" means all areas designated as such by 
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the Department due to the high rate of foreclosure on 
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residential home mortgages that is primarily the result of 
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predatory lending practices. The Department shall designate 
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the pilot program area within 30 days after the effective date 
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of this amendatory Act of the 94th General Assembly."; and
 
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on page 12, by deleting lines 20 through 31; and
 
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on page 12, line 32, by changing "(d)" to "(c)"; and
 
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on page 13, line 19, by changing "(e)" to "(d)"; and
 
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on page 13, line 20, by changing "(d)" to "(c)"; and
 
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on page 13, line 33, by changing "(f)" to "(e)"; and
 
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on page 14, line 2, by changing "(d)" to "(c)"; and
 
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on page 14, line 6, by changing "(e)" to "(d)"; and
 
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on page 14, line 7, by changing "(g)" to "(f)"; and
 
 


 






09400HB4050sam001
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on page 14, line 11, by changing "(h)" to "(g)"; and
 
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on page 14, line 25, by changing "(i)" to "(h)"; and
 
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on page 15, between lines 1 and 2, by inserting the following:
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    "(i) Nothing in this Article is intended to prevent a 
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borrower from making his or her own decision as to whether to 
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proceed with a transaction."; and
 
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on page 15, immediately below line 4, by inserting the 
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following:
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    "(k) Not later than one year after the Department 
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designates the pilot program area and annually thereafter 
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during the existence of the pilot program, the Department shall 
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report to the Governor and to the General Assembly concerning 
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its administration and the effectiveness of the pilot 
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program."; and
 
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on page 16, by deleting lines 12 and 13; and
 
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on page 16, line 14, by changing "(9)" to "(8)"; and
 
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on page 16, line 17, by changing "(10)" to "(9)"; and
 
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on page 16, line 20, by changing "(11)" to "(10)".