HB 168-FN-A - AS INTRODUCED
HOUSE BILL 168-FN-A
SPONSORS: Rep. Weyler, Rock. 13; Sen. French, Dist 7; Sen. Giuda, Dist 2; Sen. D'Allesandro, Dist 20
This bill makes an appropriation to the FRM victims' contribution recovery fund established in RSA 359-P:2.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Nineteen
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Statement of Purpose. The general court hereby finds that in 2016 the general court was presented with documented evidence that certain state agencies made mistakes knowingly or unknowingly that resulted in the continuation of the Financial Resources Mortgage (FRM) fraud causing financial harm to many victims. In response, the legislature enacted 2016, 293 (SB 155), which established the FRM victims’ contribution recovery fund to provide restitution assistance. To date, the fund has not received significant gifts or contributions of any kind. Without a state appropriation or other meaningful funding source, the fund will remain unable to award the recovery assistance intended by the enactment of RSA 359-P.
2 Appropriation; FRM Victims' Contribution Recovery Fund. For the purpose of awarding recovery assistance to victims of the FRM fraud, there is hereby appropriated the sum of $10,000,000, for the biennium ending June 30, 2021, to the FRM victims' contribution recovery fund established in RSA 359-P:2. The governor is authorized to draw a warrant for said sum out of any money in the treasury not otherwise appropriated.
HB 168-FN-A- FISCAL NOTE
FISCAL IMPACT: [ X ] State [ ] County [ ] Local [ ] None
Estimated Increase / (Decrease)
[ X ] General [ ] Education [ ] Highway [ ] Other
This bill makes a general fund appropriation of $10,000,000 to the FRM Victims' Recovery Fund; a non-lapsing, continually appropriated fund established to provide restitution assistance to victims of the Financial Resources Mortgage (FRM) fraud. The Department of Justice does not anticipate this bill will have a fiscal impact on the Department beyond the direct revenue and expenditures of the fund.
Department of Justice
|Jan. 2, 2019||Introduced 01/02/2019 and referred to Finance HJ 2 P. 40|
|Jan. 17, 2019||Public Hearing: 01/17/2019 10:00 am LOB 210-211|
|Jan. 23, 2019||Finance Division 1 Work Session: 01/23/2019 11:00 am LOB 212|
|March 13, 2019||Executive Session: 03/13/2019 10:00 am LOB 210-211|
|Retained in Committee|
|Jan. 17, 2019||House||Hearing|
|March 13, 2019||House||Exec Session|