Bill Details - HB168 (2019)

HB 168-FN-A - AS INTRODUCED

 

 

2019 SESSION

19-0116

05/06

 

HOUSE BILL 168-FN-A

 

AN ACT making an appropriation to the FRM victims' contribution recovery fund.

 

SPONSORS: Rep. Weyler, Rock. 13; Sen. French, Dist 7; Sen. Giuda, Dist 2; Sen. D'Allesandro, Dist 20

 

COMMITTEE: Finance

 

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ANALYSIS

 

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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

19-0116

05/06

 

STATE OF NEW HAMPSHIRE

 

In the Year of Our Lord Two Thousand Nineteen

 

AN ACT making an appropriation to the FRM victims' contribution recovery fund.

 

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.

3  Effective Date.  This act shall take effect July 1, 2019.

 

LBAO

19-0116

12/14/18

 

HB 168-FN-A- FISCAL NOTE

AS INTRODUCED

 

AN ACT making an appropriation to the FRM victims' contribution recovery fund.

 

FISCAL IMPACT:      [ X ] State              [    ] County               [    ] Local              [    ] None

 

 

 

Estimated Increase / (Decrease)

STATE:

FY 2020

FY 2021

FY 2022

FY 2023

   Appropriation

$10,000,000

$0

$0

$0

   Revenue

$0

$0

$0

$0

   Expenditures

$10,000,000

$0

$0

$0

Funding Source:

  [ X ] General            [    ] Education            [    ] Highway           [    ] Other

 

 

 

 

 

METHODOLOGY:

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.

 

AGENCIES CONTACTED:

       Department of Justice

 

Docket

Date Status
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

Action Dates

Date Body Type
Jan. 17, 2019 House Hearing
March 13, 2019 House Exec Session

Bill Text Revisions

HB168 Revision: 4471 Date: Dec. 27, 2018, 9:32 a.m.