+ − Summary
+ − Full Text
+ − Actions (14)
- Pursuant to Senate Rule 3-9(b) / Referred to Assignments
- Rule 2-10 Third Reading Deadline Established As October 20, 2015
- Placed on Calendar Order of 3rd Reading April 21, 2015
- Second Reading
- Placed on Calendar Order of 2nd Reading March 26, 2015
- Do Pass as Amended Financial Institutions; 011-000-000
- Senate Committee Amendment No. 1 Adopted
- Senate Committee Amendment No. 1 Assignments Refers to Financial Institutions
- Senate Committee Amendment No. 1 Referred to Assignments
- Senate Committee Amendment No. 1 Filed with Secretary by Sen. Iris Y. Martinez
- Assigned to Financial Institutions
- Referred to Assignments
- First Reading
- Filed with Secretary by Sen. Iris Y. Martinez
+ − Adopted Amendment
Senate Amendment 001
Replaces everything after the enacting clause. Reinserts the provisions of the introduced bill with the following changes: In a provision requiring the Authority to distribute amounts for the Rental Housing Support Program solely from annual receipts on deposit in the Rental Housing Support Program Fund that are appropriated in each year for distribution by the Authority for the Program, and not from any other source of funds for the Authority, provides (i) that a proportionate share of annual receipts on deposit appropriated to the Fund each year (rather than a proportionate share of annual receipts) shall be distributed to municipalities with a population greater than 2,000,000; (ii) that of the remaining annual receipts on deposit appropriated to the Fund each year (rather than of the remaining annual receipts) the Authority shall designate at least 10% in areas of the State not covered as specified under the Rental Housing Support Program Act; and (iii) that the remaining annual receipts on deposit appropriated to the Fund each year (rather than the remaining annual receipts) after the distributions in the previous provisions shall be distributed in areas of the State not covered as specified under the Act. Provides that in order to plan for periodic fluctuations in annual receipts on deposit appropriated to the Fund each year (rather than for periodic fluctuations in annual receipts), the Authority shall establish by rule a mechanism for establishing a reserve fund and the level of funding that shall be held in reserve either by the Authority or by local administering agencies. Effective immediately.