| Passed by the House January 25, 2006 Yeas 98 ________________________________________ Speaker of the House of Representatives Passed by the Senate February 28, 2006 Yeas 46 ________________________________________ President of the Senate | I, Richard Nafziger, Chief Clerk of the House of Representatives of the State of Washington, do hereby certify that the attached is HOUSE BILL 2338 as passed by the House of Representatives and the Senate on the dates hereon set forth. ________________________________________ Chief Clerk | |
| Approved ________________________________________ Governor of the State of Washington | Secretary of State State of Washington |
| State of Washington | 59th Legislature | 2006 Regular Session |
Prefiled 12/20/2005. Read first time 01/09/2006. Referred to Committee on Financial Institutions & Insurance.
AN ACT Relating to the extension of the mortgage lending fraud prosecution account; amending RCW 36.22.181, 43.320.140, and 43.320.1401; and providing expiration dates.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
Sec. 1 RCW 36.22.181 and 2003 c 289 s 1 are each amended to read
as follows:
(1) Except as provided in subsection (2) of this section, a
surcharge of one dollar shall be charged by the county auditor at the
time of recording of each deed of trust, which will be in addition to
any other charge authorized by law. The auditor may retain up to five
percent of the funds collected to administer collection. The remaining
funds shall be transmitted monthly to the state treasurer who will
deposit the funds into the mortgage lending fraud prosecution account
created in RCW 43.320.140. The department of financial institutions is
responsible for the distribution of the funds in the account and shall,
in consultation with the attorney general and local prosecutors,
develop rules for the use of these funds to pursue criminal prosecution
of fraudulent activities within the mortgage lending process.
(2) The surcharge imposed in this section does not apply to
assignments or substitutions of previously recorded deeds of trust.
(3) This section expires June 30, ((2006)) 2011.
Sec. 2 RCW 43.320.140 and 2003 c 289 s 2 are each amended to read
as follows:
(1) The mortgage lending fraud prosecution account is created in
the custody of the state treasurer. All receipts from the surcharge
imposed in RCW 36.22.181, except those retained by the county auditor
for administration, must be deposited into the account. Except as
otherwise provided in this section, expenditures from the account may
be used only for criminal prosecution of fraudulent activities related
to mortgage lending fraud crimes. Only the director of the department
of financial institutions or the director's designee may authorize
expenditures from the account. The account is subject to allotment
procedures under chapter 43.88 RCW, but an appropriation is not
required for expenditures.
(2) This section expires June 30, ((2006)) 2011.
Sec. 3 RCW 43.320.1401 and 2003 c 289 s 3 are each amended to
read as follows:
(1) Before December 31st of every year, the department of financial
institutions shall provide the senate and house of representatives
committees that address matters related to financial institutions with
a written report outlining the activity of the mortgage lending fraud
prosecution account.
(2) This section expires June 30, ((2006)) 2011.