2001 REGULAR SESSION (71st)                                                                             A SB552 482

Amendment No. 482

 

Senate Amendment to Senate Bill No. 552                                                                       (BDR 25‑1448)

Proposed by: Committee on Government Affairs

Amendment Box:

Resolves Conflicts with: N/A

Amends:         Summary:               Title:              Preamble:               Joint Sponsorship:

 

ASSEMBLY ACTION              Initial and Date              |SENATE ACTION                        Initial and Date

       Adopted       Lost                                               |          Adopted       Lost                                           

Concurred In                     Not                                                        |Concurred In  Not                                 

       Receded        Not                                               |         Receded        Not                                           

 

     Amend the bill as a whole by deleting sections 1 through 4 and renumbering sec. 5 as section 1.

     Amend sec. 5, page 2, line 27, by deleting “1.” and inserting:

“Chapter 319 of NRS is hereby amended by adding thereto a new section to read as follows:

     1.”.

     Amend the bill as a whole by deleting sections 6 through 12 and renumbering sec. 13 as sec. 2.

     Amend sec. 13, page 6, line 18, by deleting:

“NRS and section 4 of this act;” and inserting “NRS;”.

     Amend sec. 13, page 6, line 40, after “bonds” by inserting:

“, notes or other evidence of indebtedness”.

     Amend the bill as a whole by deleting sections 14 and 15 and renumbering sections 16, 17 and 18 as sections 3, 4 and 5.

     Amend sec. 18, page 9, line 28, by deleting “[1.]” and inserting “1.”.

     Amend sec. 18, page 9, line 29, by deleting “[(a)] 1.” and inserting “(a)”.

     Amend sec. 18, page 9, lines 31 and 32, by deleting “federally insured” and inserting “[federally insured”.

     Amend sec. 18, page 9, line 33, by deleting “acquisition,”.

     Amend sec. 18, page 9, by deleting lines 34 through 48 and inserting:

“rehabilitation, purchase, leasing or refinancing of residential housing within this state.

     (b) Sell, at public or private sale, with or without public bidding, any mortgage or other obligation held by the division.

     2.  At or before the time of purchase, the lending institution shall certify to the division with respect to all mortgage loans transferred to the division:

     (a) That the mortgage loans transferred to the division are for residential housing for eligible families within this state; or

     (b) That the proceeds of sale or its equivalent will be reinvested in mortgage loans for residential housing for eligible families within this state in an aggregate principal amount equal to the amount of such sale proceeds.”.

     Amend the bill as a whole by deleting sections 19 through 40 and renumbering sec. 41 as sec. 6.

     Amend the bill as a whole by deleting sections 42 through 44, and adding new sections designated sections 7 and 8, following sec. 41, to read as follows:

     “Sec. 7. NRS 319.080, 319.150, 319.160, 319.165, 319.175 and 319.180 are hereby repealed.

     Sec. 8. This act becomes effective on July 1, 2001.”.

     Amend the leadlines of repealed sections by deleting the leadlines of NRS 319.045, 319.171, 319.172, 319.323, 319.350 and 319.360.

     Amend the title of the bill to read as follows:

“AN ACT relating to affordable housing; expanding the powers of the housing division of the department of business and industry; exempting the housing division from the state purchasing act; removing certain requirements for loans made by the housing division; and providing other matters properly relating thereto.”.