File No. 209

House of Representatives, March 25, 2009

The Committee on Banks reported through REP. BARRY of the 12th Dist., Chairperson of the Committee on the part of the House, that the bill ought to pass.

AN ACT CONCERNING A STUDY OF CERTAIN PROGRAMS ADMINISTERED BY THE CONNECTICUT HOUSING FINANCE AUTHORITY.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. (Effective from passage) (a) There is established a task force to review and evaluate loss mitigation programs administered by the Connecticut Housing Finance Authority.

(b) The task force shall consist of ten members as follows:

(1) The Governor, or the Governor's designee;

(2) The speaker of the House of Representatives, or the speaker's designee;

(3) The majority leader of the House of Representatives, or the majority leader's designee;

(4) The minority leader of the House of Representatives, or the minority leader's designee;

(5) The president pro tempore of the Senate, or the president pro tempore's designee;

(6) The majority leader of the Senate, or the majority leader's designee;

(7) The minority leader of the Senate, or the minority leader's designee;

(8) The Banking Commissioner, or the commissioner's designee; and

(9) The chairpersons of the joint standing committee of the General Assembly having cognizance of matters relating to banks.

(c) The task force members shall elect a chairperson from among the members of the task force.

(d) The chairperson shall schedule the first meeting of the task force, which shall be held no later than sixty days after the effective date of this section.

(e) The administrative staff of the joint standing committee of the General Assembly having cognizance of matters relating to banks shall serve as administrative staff of the task force.

(f) Not later than January 1, 2010, the task force shall submit a report on its findings and recommendations to the joint standing committee of the General Assembly having cognizance of matters relating to banking, in accordance with the provisions of section 11-4a of the general statutes. The task force shall terminate on the date that it submits such report or January 1, 2010, whichever is later.

The following Fiscal Impact Statement and Bill Analysis are prepared for the benefit of the members of the General Assembly, solely for purposes of information, summarization and explanation and do not represent the intent of the General Assembly or either chamber thereof for any purpose. In general, fiscal impacts are based upon a variety of informational sources, including the analyst's professional knowledge. Whenever applicable, agency data is consulted as part of the analysis, however final products do not necessarily reflect an assessment from any specific department.

OFA Fiscal Note

State Impact:

Note: GF=General Fund

Municipal Impact: None

Explanation

The bill establishes a task force to study loss mitigation programs administrated by the Connecticut Housing Finance Authority. The task force must report its findings and recommendations to the Banks Committee by January 1, 2010.

The bill appoints the chairpersons of the Banks Committee to the task force and requires the committee's staff to provide administrative assistance. The Office of Legislative Management would incur minimal costs associated with mileage reimbursement of 55 cents per mile for legislators participating on the task force.

OLR Bill Analysis

HB 5908

AN ACT CONCERNING A STUDY OF CERTAIN PROGRAMS ADMINISTERED BY THE CONNECTICUT HOUSING FINANCE AUTHORITY.

SUMMARY:

The Office of Legislative Research does not analyze Special Acts.

COMMITTEE ACTION

Banks Committee

Joint Favorable