HB 901

AN ACT TO PROVIDE THAT THE DEPARTMENT OF FINANCE AND ADMINISTRATION SHALL DEVELOP THE HOMETOWN HEROES HOME LOAN GUARANTY PROGRAM TO PROVIDE LOAN GUARANTIES ON BEHALF OF CERTAIN FIREFIGHTERS, LAW ENFORCEMENT OFFICERS, NURSES AND TEACHERS FOR THE PURPOSE OF ASSISTING SUCH INDIVIDUALS IN OBTAINING CONVENTIONAL FINANCING FOR THE PURCHASE OF RESIDENTIAL PROPERTY THAT IS TO BE THE PRIMARY HOME AND RESIDENCE OF SUCH AN INDIVIDUAL AND FOR WHICH THE INDIVIDUAL CERTIFIES TO THE DEPARTMENT THAT HE OR SHE INTENDS TO FILE AN APPLICATION FOR HOMESTEAD EXEMPTION UNDER THE STATE HOMESTEAD EXEMPTION LAW; TO CREATE THE HOMETOWN HEROES HOME LOAN GUARANTY FUND AS A SPECIAL FUND IN THE STATE TREASURY, WHICH SHALL BE ADMINISTERED BY THE DEPARTMENT FOR THE PURPOSE OF PROVIDING LOAN GUARANTIES UNDER THIS ACT; AND FOR RELATED PURPOSES.