Actions
May 5, 2009, 12:00 am ET - Amendment SA 1033 proposed by Senator Casey to Amendment SA 1018.
May 6, 2009, 12:00 am ET - Considered by Senate.
May 6, 2009, 12:00 am ET - Amendment SA 1033 agreed to in Senate by Unanimous Consent.
Full Text of this Amendment
SA 1033. Mr. CASEY (for himself, Mr. Leahy, Mr. Specter, and Mrs. Gillibrand) submitted an amendment intended to be proposed to amendment SA 1018 submitted by Mr. Dodd (for himself and Mr. Shelby) to the bill S. 896, to prevent mortgage foreclosures and enhance mortgage credit availability; which was ordered to lie on the table; as follows:
At the end of title I of the amendment, add the following:
SEC. 105. NEIGHBORHOOD STABILIZATION PROGRAM REFINEMENTS.
(a) In General.--Section 2301 of the Foreclosure Prevention Act of 2008 (42 U.S.C. 5301 note) is amended--
(1) in subsection (b), by adding at the end the following:
``(5) DISTRIBUTION OF FUNDS IN CERTAIN STATES; COMPETITION FOR FUNDS.--Each State that receives the minimum allocation of amounts pursuant to the requirement under section 2302 shall be permitted to use such amounts to address statewide concerns, provided that such amounts are made available for an eligible use described under paragraphs (3) and (4) of subsection (c).''; and
(2) in subsection (c), by adding at the end the following:
``(4) FORECLOSURE PREVENTION AND MITIGATION.--
``(A) IN GENERAL.--Each State and unit of general local government that receives an allocation of any covered amounts, as such amounts are distributed pursuant to section 2302, may use up to 10 percent of such amounts for foreclosure prevention programs, activities, and services, foreclosure mitigation programs, activities, and services, or both, as such programs, activities, and services are defined by the Secretary.
``(B) DEFINITION OF COVERED AMOUNTS.--For purposes of this paragraph, the term `covered amount' means any amounts appropriated--
``(i) under this section as in effect on the date of enactment of this section; and
``(ii) under the heading `Community Development Fund' of title XII of division A of the American Recovery and Reinvestment Act of 2009 (Public Law 111-5; 123 Stat. 217).''.
(b) Retroactive Effective Date.--The amendment made by subsection (a) shall take effect as if enacted on the date of enactment of the Foreclosure Prevention Act of 2008 (Public Law 110-289).
(As printed in the Congressional Record for the Senate on May 1, 2009.)
At the end of title I of the amendment, add the following:
SEC. 105. NEIGHBORHOOD STABILIZATION PROGRAM REFINEMENTS.
(a) In General.--Section 2301 of the Foreclosure Prevention Act of 2008 (42 U.S.C. 5301 note) is amended--
(1) in subsection (b), by adding at the end the following:
``(5) DISTRIBUTION OF FUNDS IN CERTAIN STATES; COMPETITION FOR FUNDS.--Each State that receives the minimum allocation of amounts pursuant to the requirement under section 2302 shall be permitted to use such amounts to address statewide concerns, provided that such amounts are made available for an eligible use described under paragraphs (3) and (4) of subsection (c).''; and
(2) in subsection (c), by adding at the end the following:
``(4) FORECLOSURE PREVENTION AND MITIGATION.--
``(A) IN GENERAL.--Each State and unit of general local government that receives an allocation of any covered amounts, as such amounts are distributed pursuant to section 2302, may use up to 10 percent of such amounts for foreclosure prevention programs, activities, and services, foreclosure mitigation programs, activities, and services, or both, as such programs, activities, and services are defined by the Secretary.
``(B) DEFINITION OF COVERED AMOUNTS.--For purposes of this paragraph, the term `covered amount' means any amounts appropriated--
``(i) under this section as in effect on the date of enactment of this section; and
``(ii) under the heading `Community Development Fund' of title XII of division A of the American Recovery and Reinvestment Act of 2009 (Public Law 111-5; 123 Stat. 217).''.
(b) Retroactive Effective Date.--The amendment made by subsection (a) shall take effect as if enacted on the date of enactment of the Foreclosure Prevention Act of 2008 (Public Law 110-289).
(As printed in the Congressional Record for the Senate on May 1, 2009.)
