EXPLANATION: Requires 16% of the National Mortgage Settlement be used for the Neighborhood Stabilization Program, 16% be used for the Multifamily Bond Program, 18% be used for regional housing trust funds.
Amend the bill, as and if amended, Part IB, Section 90, STATEWIDE REVENUE, page 516, paragraph 90.19, line 32, by striking /Line 32 in its entirety/ and inserting /been credited to the General Fund to the South Carolina State Housing Authority. Of these funds, 16% shall be used for the continuation of the Neighborhood Stabilization Program, 16% shall be used for the Multifamily Bond Program and 18% of these funds must be split equally among the Greenville Housing Trust Fund, The Midlands Housing Trust Fund and the Low Country Housing Trust Fund. The balance of the funds shall be transferred to the Department of Commerce's Deal Closing Fund./
Renumber sections to conform.
Amend totals and titles to conform.