HB297 (2021) Detail

Making an appropriation to the FRM victims' contribution recovery fund.


HB 297-FN-A - AS INTRODUCED

 

 

2021 SESSION

21-0435

11/05

 

HOUSE BILL 297-FN-A

 

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

 

SPONSORS: Rep. Weyler, Rock. 13; Rep. Sylvia, Belk. 6; Rep. Johnson, Belk. 3; Rep. Bordes, Belk. 3; Rep. O'Hara, Belk. 9; Rep. Silber, Belk. 2; Rep. Aldrich, Belk. 2; Rep. Mackie, Belk. 2; Sen. Giuda, Dist 2; Sen. Avard, Dist 12; 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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

21-0435

11/05

 

STATE OF NEW HAMPSHIRE

 

In the Year of Our Lord Two Thousand Twenty One

 

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, 2023, 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, 2021.

 

LBA

21-0435

12/22/20

 

HB 297-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 2021

FY 2022

FY 2023

FY 2024

   Appropriation

$0

$10,000,000

$0

$0

   Revenue

$0

$0

$0

$0

   Expenditures

$0

Indeterminable Increase

Indeterminable Increase

Indeterminable Increase

Funding Source:

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

 

 

 

 

 

METHODOLOGY:

This bill makes a general fund appropriation of $10 million to the FRM Victims' contribution recovery fund established in RSA 359-P;2.  The Department of Justice indicates RSA 359-P:4 charged the Department with hiring an attorney or administrator to solicit funds from private organizations for the Fund.  The position was to be self-funded from no more than 10% of private sector contributions to the Fund.  The Department would review applications for relief from the Fund and allocate funds to victims.  To date, the Department has not been successful in finding a staff member whose salary is dependent on the amount of solicited funds and so, it has not undertaken the process of allocating funds or reviewing applications.  The appropriation in this bill would initiate that process, and place the Department in the position of needing to review applications for relief from the Fund.  The Department would need to review and investigate claims to avoid fraud on the Fund and would require staff with specialized expertise in accounting, financial fraud, and other areas to support the needs of the Fund.  It would also require the Department to establish and provide administrative support for a board tasked with reviewing the applications.  The number and nature of potential applications is unknown and therefore, the financial impact is indeterminate, but it is likely that this bill would result in increased staffing needs for the Department.  

 

AGENCIES CONTACTED:

Department of Justice

 

Links

HB297 at GenCourtMobile
HB297 Discussion

Action Dates

Date Body Type
Feb. 9, 2021 House Hearing
Feb. 16, 2021 House Exec Session
Oct. 26, 2021 House Exec Session
Oct. 28, 2021 House Floor Vote
Feb. 9, 2021 House Hearing
Oct. 26, 2021 House Exec Session
Oct. 28, 2021 House Floor Vote

Bill Text Revisions

HB297 Revision: 31612 Date: Jan. 9, 2021, 5:07 p.m.

Docket


: Committee Report: Inexpedient to Legislate HB297-FN-A 10/28/2021 (Vote 21-0; )


Oct. 29, 2021: Committee Report: Inexpedient to Legislate HB297-FN-A 10/28/2021 (Vote 21-0; )


Oct. 26, 2021: Executive Session: 10/26/2021 10:00 am LOB 210-211


Oct. 6, 2021: Executive Session: 10/26/2021 10:00 am LOB 210-211


: Division I Work Session: 09/14/2021 01:00 pm LOB 212


Aug. 31, 2021: Division I Work Session: 09/14/2021 01:00 pm LOB 212


: Retained in Committee


March 23, 2021: Retained in Committee


Feb. 16, 2021: Executive Session: 02/16/2021 10:30 am Members of the public may attend using the following link: To join the webinar: https://www.zoom.us/j/92166004660


Feb. 4, 2021: Public Hearing: 02/09/2021 09:00 am Members of the public may attend using the following link: To join the webinar: https://www.zoom.us/j/92166004660 / Executive session on pending legislation may be held throughout the day (time permitting) from the time the committee is initially convened.


Feb. 9, 2021: Public Hearing: 02/09/2021 09:00 am Members of the public may attend using the following link: To join the webinar: https://www.zoom.us/j/92166004660 / Executive session on pending legislation may be held throughout the day (time permitting) from the time the committee is initially convened.


Jan. 6, 2021: Introduced (in recess of) 01/06/2021 and referred to Finance HJ 2 P. 42


Jan. 9, 2021: Introduced (in recess of) 01/06/2021 and referred to Finance HJ 2 P. 42