HB 1940 - DIGEST

     Directs CTED to establish and administer the emergency mortgage and rental assistance program.  The department shall identify the communities most adversely affected by reductions in the aerospace industry and shall prioritize assistance under this program to these communities.

     Declares that the goals of the program are to:  (1) Provide temporary emergency mortgage loans or rental assistance grants or loans on behalf of dislocated aerospace workers who are unable to make mortgage, property tax, or rental payments on their permanent residences and are subject to immediate eviction for nonpayment of mortgage installments, property taxes, or nonpayment of rent;

     (2) prevent the dislocation of individuals and families from their permanent residences and their communities; and

     (3) maintain economic and social stability in communities affected by reductions in the aerospace industry.