LD 1697 LR 2071(01)
An Act To Establish a Homeowner Assistance Fund Program and Provide for the Distribution of Funds
Preliminary Fiscal Impact Statement for Original Bill
Sponsor: Sen. Breen of Cumberland
Committee: Appropriations and Financial Affairs
Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
FY 2020-21 FY 2021-22 FY 2022-23 Projections  FY 2023-24 Projections  FY 2024-25
Federal Expenditures Fund - ARP $500 $50,000,000 $500 $0 $0
Fiscal Detail and Notes
This bill includes one-time Federal Expenditures Fund - ARP allocations of $500 in fiscal year 2020-21, $50,000,000 in fiscal year 2021-22 and $500 in fiscal year 2022-23 to a newly created Homeowner Assistance Fund within the Department of Professional and Financial Regulation to allow for the distribution of funds to prevent mortgage delinquencies and defaults, foreclosures, loss of utilities or home energy services and displacements of homeowners experiencing financial hardships.