View Amendment Current Amendment: DC $18 m to Foreclosure Asstnce.DOCX to Bill 4813     Senator SCOTT proposes the following amendment (DC $18 M TO FORECLOSURE ASSTNCE):
    Amend the bill, as and if amended, Part IA, Section 32, HOUSING FINANCE & DEVELOPMENT AUTHORITY, page 139, by inserting after line 31,
        Column 7     Column 8

/Non-Recurring Appropriations
Homeowners Foreclosure Assistance     3,000,000     3,000,000/

    Amend sections, totals and title to conform.

    Amend the bill further, as and if amended, Part IA, Section 45, ATTORNEY GENERAL'S OFFICE, page 181, lines 36-37, by striking opposite:
        Column 7     Column 8

Savannah River Maritime Comm Litigation/     3,000,000     3,000,000/

    Amend sections, totals and title to conform.

    Amend the bill further, as and if amended, Part IB, Section 90, STATEWIDE REVENUE, page 529, proviso 90.19, by striking the proviso in its entirety, lines 30 - 35 and inserting

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    90.19.     (SR: National Mortgage Settlement) (A) If any funds derived from the National Mortgage Settlement are credited to the Litigation Recovery Account before the current fiscal year, then the first ten million dollars in that account in the current fiscal year must be transferred to the Housing Finance and Development Authority for Homeowners Foreclosure Assistance and any remaining amount in the Litigation Recovery Account on July 1, 2012, must be transferred to the General Fund.
    (B)     If any of the proceeds of the National Mortgage Settlement are made available to the State in the current fiscal year, and the balances provided in subparagraph (A) of this paragraph have not been paid from the Litigation Recovery Account, then the first ten million dollars of the proceeds must be transferred to the Housing Finance and Development Authority for Homeowners Foreclosure Assistance and any remaining proceeds must be transferred to the General Fund.
    C) Of the funds transferred in accordance with subparagraph (A) or subparagraph (B) above for Homeowners Foreclosure Assistance, the funds appropriated in Section 32 of Part IA of this Act for Homeowners Foreclosure Assistance, and the funds appropriated in subsection (B)(8) of Proviso 90.20 of this Act, fifty percent shall be used to fund the South Carolina Legal Services for the purpose of representing individuals in foreclosure or who need loss mitigation assistance and to provide counseling to assist individuals in avoiding foreclosure and the remaining fifty percent shall be used for the Multifamily Bond Program. Fifteen percent of the net proceeds from the Multifamily Bond Program development projects shall be used to provide funding to the three local housing trust funds; Lowcountry Housing Trust, Community Works of Carolina, and the Midlands Housing Trust Fund, during the Qualified Project Period as defined by the Multifamily Bond Program.
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    Amend the bill further, as and if amended, Part IB, Section 90, STATEWIDE REVENUE, pages 530-531, paragraph 90.20, lines 33-36 on Page 530 and lines 1-2 on Page 531 by striking Subparagraph (8.1 (Homeowners Foreclosure Assistance) in its entirety.

Renumber sections to conform.