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§ 1681.3. Homeowner Assistance Settlement Fund

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 35 P.S. Health and SafetyEffective: June 22, 2012

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 35 P.S. Health and Safety (Refs & Annos)
Chapter 18. Housing (Refs & Annos)
Homeowner Assistance Settlement Act
Effective: June 22, 2012
35 P.S. § 1681.3
§ 1681.3. Homeowner Assistance Settlement Fund
Currentness
(a) Establishment.--There is established a special fund known as the Homeowner Assistance Settlement Fund. All payments received by the Commonwealth pursuant to the Homeowner Assistance Settlement Agreement shall be deposited by the Treasury Department into the fund and are hereby appropriated on a continuing basis.
(b) Allocation of funds.--The moneys in the fund shall be allocated each fiscal year no later than July 1 until all settlement funds are expended, subject to the following limitations:
(1) Ninety percent shall be allocated to the Pennsylvania Housing Finance Agency for the purpose of funding the Homeowner's Emergency Mortgage Assistance Program.
(2) Five percent shall be allocated to the Office of Attorney General for the purpose of funding housing consumer protection programs.
(3) Five percent shall be allocated to the Access to Justice Account established under 42 Pa.C.S. § 4904 (relating to establishment of Access to Justice Account) for civil legal assistance related to housing issues.
(c) Limitation on annual allocation.--The annual allocation of funds under subsection (b) shall not exceed $12,000,000 annually, except that in fiscal year 2012-2013 the amount shall not exceed $18,000,000.

Credits

2012, June 22, P.L. 648, No. 70, § 3, imd. effective.
35 P.S. § 1681.3, PA ST 35 P.S. § 1681.3
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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