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| ACCOUNT | FY2016 Conference |
FY2016 Vetoes |
FY2016 Overrides |
FY2016 GAA |
|
|---|---|---|---|---|---|
| 7006-0010 | Division of Banks | 16,493 | 0 | 0 | 16,493 |
| 7006-0011 | Loan Originator Administration and Consumer Counseling Program | 2,350 | 0 | 0 | 2,350 |
| TOTAL | 18,843 | 0 | 0 | 18,843 | |
| account | description | amount |
|---|---|---|
| DIVISION OF BANKS | 18,843,118 | |
| Direct Appropriations | ||
| 7006-0010 | Division of Banks
For the operation of the division of banks; provided, that notwithstanding any general or special law to the contrary, the division shall assess 100 per cent of the amount appropriated in this item and the associated fringe benefits costs for personnel paid from this item upon financial institutions which the division currently regulates pursuant to section 2 of chapter 167 of the General Laws |
16,493,118 |
| account | description | amount |
|---|---|---|
| Retained Revenues | ||
| 7006-0011 | Loan Originator Administration and Consumer Counseling Program
For the costs incurred by the division of banks associated with licensure of loan originators under chapter 255F of the General Laws; provided, that the division may expend revenues in an amount not to exceed $2,350,000 from the revenue received from administrative fees associated with the licensure fees and from civil administrative penalties collected under said chapter 255F; provided further, that the division may expend from such revenue an amount to be determined by the commissioner of banks as grants for the operation of a program for best lending practices, first-time homeowner counseling for non-traditional loans and 10 or more foreclosure education centers under section 16 of chapter 206 of the acts of 2007 and that the grants shall be awarded through a competitive application process under criteria established by the division; and provided further, that for the purpose of accommodating timing discrepancies between the receipt of retained revenues and related expenditures, the division may incur expenses and the comptroller may certify for payment amounts not to exceed the lower of this authorization or the most recent revenue estimate as reported in the state accounting system |
2,350,000 |
| account | description | amount |
|---|