Amendments for HB08-1402
 

House Journal, April 25
34 HB08-1402 be amended as follows, and as so amended, be referred to
35 the Committee on Appropriations with favorable
36 recommendation:
37
38 Amend printed bill, page 2, strike lines 2 through 20.
39
40 Strike page 3.
41
42 Page 4, strike line 1 and substitute the following:
43
44 "SECTION 1. 38-38-102.5, Colorado Revised Statutes, is
45 RECREATED AND REENACTED, WITH AMENDMENTS, to read:
46
47 38-38-102.5. Notice prior to residential foreclosure - hotline.
48 (1) AS USED IN THIS SECTION, "HOLDER" MEANS THE HOLDER OF AN
49 EVIDENCE OF DEBT";
50
51 strike lines 4 and 5;
52
53 line 6, strike "(d), "HOLDER"" and substitute "ON THE HOLDER'S BEHALF.
54 "HOLDER"";
55
56 strike lines 9 through 20;
1 strike lines 25 through 27 and substitute the following:
2
3 "CONTAINING THE TELEPHONE NUMBER OF THE COLORADO FORECLOSURE
4 HOTLINE AND THE DIRECT TELEPHONE NUMBER OF THE LOSS MITIGATION
5 DEPARTMENT.".
6
7 Strike pages 5 and 6.
8
9 Page 7, strike lines 1 through 25 and substitute the following:
10
11 "SECTION 2. Part 7 of article 32 of title 24, Colorado Revised
12 Statutes, is amended BY THE ADDITION OF A NEW SECTION to
13 read:
14
15 24-32-719. Foreclosure prevention - outreach efforts - grant
16 fund - creation - administration. (1) THERE IS HEREBY CREATED IN THE
17 STATE TREASURY THE FORECLOSURE PREVENTION GRANT FUND. THE FUND
18 SHALL CONSIST OF MONEYS APPROPRIATED BY THE GENERAL ASSEMBLY AS
19 WELL AS GIFTS, GRANTS, AND DONATIONS, WHICH THE DIVISION IS HEREBY
20 AUTHORIZED AND DIRECTED TO SOLICIT, ACCEPT, AND DISBURSE FOR THE
21 PURPOSE OF MAKING GRANTS AS PROVIDED IN THIS SECTION. ANY MONEYS
22 IN SUCH FUND AT THE END OF ANY FISCAL YEAR SHALL NOT REVERT TO
23 THE GENERAL FUND.
24
25 (2) UPON THE APPROVAL OF THE STATE HOUSING BOARD, THE
26 DIVISION MAY MAKE A GRANT FROM MONEYS IN THE FUND TO ANY LOCAL
27 HOUSING AUTHORITY, PUBLIC NONPROFIT CORPORATION, OR PRIVATE
28 NONPROFIT CORPORATION FOR THE SOLE PURPOSE OF PROVIDING
29 OUTREACH AND NOTICE OF FORECLOSURE PREVENTION ASSISTANCE TO
30 PERSONS IN DANGER OF FORECLOSURE AND TO COMMUNITIES WITH HIGH
31 FORECLOSURE RATES. GRANTS SHALL BE MADE SUBJECT TO PROPOSALS
32 RECEIVED BY THE DIVISION AND AWARDED BASED UPON CRITERIA
33 DETERMINED BY THE DIVISION, WHICH CRITERIA SHALL INCLUDE:
34
35 (a) EVIDENCE OF THE ABILITY TO USE FUNDS EFFECTIVELY;
36
37 (b) AN ESTABLISHED PRESENCE IN THE COMMUNITY, WITH
38 PREFERENCE GIVEN TO ORGANIZATIONS WITH MEMBERS IN LOW- AND
39 MODERATE-INCOME AREAS WITH HIGH FORECLOSURE RATES; AND
40
41 (c) A DEMONSTRATED ABILITY TO REACH HOMEOWNERS FROM
42 CONSTITUENCIES AND COMMUNITIES WITH HIGH FORECLOSURE RATES.
43
44 (3) ON OR BEFORE JANUARY 1, 2009, AND ON OR BEFORE EACH
45 JANUARY 1 THEREAFTER, THE DIVISION SHALL REPORT TO THE BUSINESS
46 AFFAIRS AND LABOR COMMITTEE OF THE HOUSE OF REPRESENTATIVES AND
47 THE BUSINESS, LABOR, AND TECHNOLOGY COMMITTEE OF THE SENATE, OR
48 THEIR SUCCESSOR COMMITTEES, ON THE DIVISION'S RECEIPTS AND
49 EXPENDITURES PURSUANT TO THIS SECTION. THE DIVISION'S REPORT
50 SHALL CONTAIN QUANTIFIED RESULTS OF OUTCOMES, INCLUDING DATA AS
51 TO THE NUMBER OF CALLS TO THE FORECLOSURE HOTLINE AND THE
52 NUMBERS OF DEFAULTS, FORECLOSURES, AND REDEMPTIONS IN IDENTIFIED
53 GEOGRAPHIC AREAS.
54
55 SECTION 3. Appropriation. (1) In addition to any other
56 appropriation, there is hereby appropriated, out of any moneys in the
1 general fund not otherwise appropriated, to the foreclosure prevention
2 grant fund created in section 24-32-719, Colorado Revised Statutes, for
3 the fiscal year beginning July 1, 2008, the sum of one hundred thousand
4 dollars ($100,000), or so much thereof as may be necessary, for the
5 implementation of this act.
6
7 (2) In addition to any other appropriation, there is hereby
8 appropriated, out of any moneys in the foreclosure prevention grant fund
9 not otherwise appropriated, to the department of local affairs, for
10 allocation to the division of housing, for the fiscal year beginning July 1,
11 2008, the sum of one hundred thousand dollars ($100,000), or so much
12 thereof as may be necessary, for the implementation of this act.".
13
14

House Journal, April 29
35 HB08-1402 be amended as follows, and as so amended, be referred to
36 the Committee of the Whole with favorable
37 recommendation:
38
39 Amend the Business Affairs and Labor Committee Report, dated April
40 24, 2008, page 2, line 8, strike "administration." and substitute
41 "administration - repeal.";
42
43 line 14, strike "ANY" and substitute "THE 2008-09";
44
45 line 15, after the period, add "ANY UNEXPENDED AND UNENCUMBERED
46 MONEYS REMAINING IN THE FUND AS OF JUNE 30, 2010, SHALL REVERT TO
47 THE GENERAL FUND.".
48
49 Page 3, after line 8, insert the following:
50
51 "(4) THIS SECTION IS REPEALED, EFFECTIVE JULY 1, 2010.";
52
53 strike lines 9 through 21 and insert the following:
54
55 "SECTION 3. Appropriation - adjustments to the 2008 long
56 bill. (1) In addition to any other appropriation, there is hereby
1 appropriated, out of any moneys in the general fund not otherwise
2 appropriated, to the foreclosure prevention grant fund created in section
3 24-32-719 (1), Colorado Revised Statutes, for the fiscal year beginning
4 July 1, 2008, the sum of one hundred thousand dollars ($100,000), or so
5 much thereof as may be necessary, for the implementation of this act.
6
7 (2) In addition to any other appropriation, there is hereby
8 appropriated, out of any moneys in the foreclosure prevention grant fund
9 created in section 24-32-719 (1), Colorado Revised Statutes, not
10 otherwise appropriated, to the department of local affairs, for allocation
11 to the division of housing, for the fiscal years beginning July 1, 2008 and
12 July 1, 2009, the sum of one hundred thousand dollars ($100,000), or so
13 much thereof as may be necessary, for the implementation of this act.
14
15 (3) For the implementation of this act, the general fund
2316 appropriation to the controlled maintenance trust fund made in section
17 of the annual general appropriation act, for the fiscal year beginning July
18 1, 2008, shall be decreased by one hundred thousand dollars ($100,000).";
19
20 After line 21 of the Committee Report, insert the following:
21
22 "Page 1, line 102, strike ""FORECLOSURE." and substitute
23 "FORECLOSURE, AND MAKING AN APPROPRIATION THEREFOR.".".
24
25

House Journal, April 29
23 Amendment No. 1, Business Affairs & Labor Report, dated
24 April 24, 2008, and placed in member's bill file; Report also printed in
26
27 Amendment No. 2, Appropriations Report, dated April 29, 2008, and
28 placed in member's bill file; Report also printed in House Journal,
29 April 29, pages 1661-1662.
30
31 Amendment No. 3, by Representative Rice.
32
33 Amend the Business Affairs and Labor Committee Report, dated April
34 24, 2008, page 1, strike lines 3 through 15.
35
36 Page 2 of the committee report, strike line 1 and substitute the following:
37
38 "Page 4 of the printed bill, strike lines 1 through 27 and substitute the
39 following:
40
41 "SECTION 1. 38-38-102.5, Colorado Revised Statutes, is
42 RECREATED AND REENACTED, WITH AMENDMENTS, to read:
43
44 38-38-102.5. Notice prior to residential foreclosure - hotline.
45 (1) AS USED IN THIS SECTION, "HOLDER" MEANS THE HOLDER OF AN
46 EVIDENCE OF DEBT CONSTITUTING A RESIDENTIAL MORTGAGE LOAN, AS
47 DEFINED IN SECTION 12-61-902, C.R.S., OR THAT HOLDER'S LOAN
48 SERVICER OR OTHER PERSON ACTING ON THE HOLDER'S BEHALF.
49 "HOLDER" SHALL NOT INCLUDE A PERSON WHOSE ONLY ACTIVITY AS A
50 HOLDER IS AS THE SELLER IN NOT MORE THAN THREE CREDIT SALES OR
51 LOANS PER YEAR.
52
53 (2) AT LEAST THIRTY DAYS BEFORE FILING A NOTICE OF ELECTION
54 AND DEMAND AND AT LEAST THIRTY DAYS AFTER DEFAULT, BUT NOT
55 NECESSARILY MORE FREQUENTLY THAN ONCE IN ANY TWELVE-MONTH
56 PERIOD, THE HOLDER SHALL MAIL A NOTICE ADDRESSED TO THE DEBTOR
1 AT THE ADDRESS SHOWN ON ITS RECORDS, CONTAINING THE TELEPHONE
2 NUMBER OF THE COLORADO FORECLOSURE HOTLINE AND THE DIRECT
3 TELEPHONE NUMBER OF THE LOSS MITIGATION REPRESENTATIVE.".".
4
5 Page 3 of the committee report, after line 21, add the following:
6
7 "Page 8 of the printed bill, strike line 1 and substitute "August 1, 2008.".".
8
9 Amendment No. 4, by Representatives Ferrandino and Gagliardi.
10
11 Amend, Amendment No. 3 by Representative Rice, as printed in House
12 Journal, page 1692, line 3, strike "LOSS MITIGATION
13 REPRESENTATIVE."."." and substitute "HOLDER'S LOSS MITIGATION
14 REPRESENTATIVE OR DEPARTMENT.".";
15
16 Page 2, line 12 of the committee report, after "ACCEPT,", insert
17 "EXPEND,".".
18
19 As amended, ordered engrossed and placed on the Calendar for Third
20 Reading and Final Passage.
21

Senate Journal, May 1
After consideration on the merits, the Committee recommends that HB08-1402 be
amended as follows, and as so amended, be referred to the Committee on Appropriations
with favorable recommendation.

Amend reengrossed bill, page 2, line 15, strike "BUT NOT";
strike line 16;

line 17, strike "PERIOD,".

Page 3, after line 1, insert the following:

"(3) (a) THIS SECTION SHALL APPLY ONLY TO A DEFAULT
CONSISTING SOLELY OF THE DEBTOR'S FAILURE TO MAKE ONE OR MORE
REQUIRED PAYMENTS.

(b) WITH RESPECT TO DEFAULTS ON THE SAME OBLIGATION, AFTER
THE HOLDER HAS ONCE GIVEN THE DEBTOR A NOTICE AS SPECIFIED IN
SUBSECTION (2) OF THIS SECTION, THIS SECTION IMPOSES NO LIMITATION
ON THE HOLDER'S RIGHT TO FORECLOSE WITH RESPECT TO ANY
SUBSEQUENT DEFAULT THAT OCCURS WITHIN TWELVE MONTHS AFTER
SUCH NOTICE.".


State, Veterans, & Military Affairs

Senate Journal, May 2
After consideration on the merits, the Committee recommends that HB08-1402 be
amended as follows, and as so amended, be referred to the Committee of the Whole with
favorable recommendation.

Amend reengrossed bill, page 4, strike lines 16 through 27 and insert the
following:

"SECTION 3. Appropriation - adjustments to the 2008 long
bill. (1) In addition to any other appropriation, there is hereby
appropriated, out of any moneys in the general fund not otherwise
appropriated, to the foreclosure prevention grant fund created in section
24-32-719 (1), Colorado Revised Statutes, for the fiscal year beginning
July 1, 2008, the sum of one hundred thousand dollars ($100,000), or so
much thereof as may be necessary, for the implementation of this act.

(2) In addition to any other appropriation, there is hereby
appropriated, out of any moneys in the foreclosure prevention grant fund
created in section 24-32-719 (1), Colorado Revised Statutes, not
otherwise appropriated, to the department of local affairs, for allocation
to the division of housing, for the fiscal year beginning July 1, 2008, the
sum of one hundred thousand dollars ($100,000) reappropriated funds, or
so much thereof as may be necessary, for the implementation of this act.
Said sum shall remain available through June 30, 2009.

(3) For the implementation of this act, the general fund
appropriation to the controlled maintenance trust fund made in section 23
of the annual general appropriation act, for the fiscal year beginning July
1, 2008, shall be decreased by one hundred thousand dollars ($100,000).";

Page 5, strike lines 1 through 6.


Appropriations