43.320.165 - Prevent or reduce owner-occupied foreclosure program account.

Prevent or reduce owner-occupied foreclosure program account. (Effective until June 30, 2011.)

The prevent or reduce owner-occupied foreclosure program account is created in the custody of the state treasurer. All receipts from the appropriation in section 4, chapter 322, Laws of 2008 as well as receipts from private contributions and all other sources that are specifically designated for the prevent or reduce owner-occupied foreclosure program must be deposited into the account. Expenditures from the account may be used solely for the purpose of preventing or reducing owner-occupied foreclosures through the prevent or reduce owner-occupied foreclosure program as described in RCW 43.320.160. Only the director of the department 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. During the 2009-2011 fiscal biennium, the legislature may transfer from the prevent or reduce owner-occupied foreclosure program account to the financial education public-private partnership account such amounts as reflect the excess fund balance of the account.

[2010 1st sp.s. c 37 § 935; 2009 c 386 § 2; 2008 c 322 § 2.]

Notes: Expiration date -- 2010 1st sp.s. c 37 § 935: "Section 935 of this act expires June 30, 2011." [2010 1st sp.s. c 37 § 957.]

Effective date -- 2010 1st sp.s. c 37: See note following RCW 13.06.050.