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HB168: making an appropriation to the FRM victims' contribution recovery fund.
Bill details
Version history, amendments, and roll-call votes were not present in the imported local bill data.
Sponsors
- Kenneth Weyler House · Rock 13
- Harold French Senate · Dist 7
- Bob Giuda Senate · Dist 2
- D'Allesandro Senate · Dist 20
Topics
Official links
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.
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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.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