(a) There is established as a nonlapsing fund the Foreclosure Mediation Fund (“Fund”), which shall be used solely to pay the costs of the administration of the foreclosure mediation established by § 42-815.02. The Mayor shall deposit in the Fund all fees and penalties generated pursuant to the foreclosure mediation program.
(b) All funds deposited into the Fund, and any interest earned on those funds, shall not revert to the unrestricted fund balance of the General of the District of Columbia at the end of a fiscal year, or at any other time, but shall be continually available for the uses and purposes set forth in subsection (a) of this section, subject to authorization by Congress.
CREDIT(S)
(Mar. 3, 1901, 31 Stat. 1274, ch. 854, § 539c, as added Mar. 12, 2011, D.C. Law 18-314, § 2(c), 57 DCR 12404.)
HISTORICAL AND STATUTORY NOTES
Emergency Act Amendments
For temporary (90 day) addition of section, see § 2(c) of Saving D.C. Homes from Foreclosure Emergency Amendment Act of 2010 (D.C. Act 18-599, November 17, 2010, 57 DCR 11026).
For temporary (90 day) addition of section, see § 2(c) of Saving D.C. Homes from Foreclosure Congressional Review Emergency Amendment Act of 2011 (D.C. Act 19-8, February 11, 2011, 58 DCR 1418).
For temporary (90 day) amendment of section, see § 2(c) of Saving D.C. Homes from Foreclosure Enhanced Emergency Amendment Act of 2012 (D.C. Act 19-378, June 15, 2012, 59 DCR 7380).
Legislative History of Laws
For history of Law 18-314, see notes under § 42-815.