Directs the State Controller to transfer $100 million from the Coronavirus Relief Reserve to the Coronavirus Relief Fund (both established in SL 2020-4) for the 2019-20 fiscal year; appropriates $100 million in nonrecurring funds from the Fund to the Home Protection Program Fund (Program Fund).
Directs the Housing Finance Agency (Agency) to use the appropriated funds for the Home Protection Program consistent with GS 122A-5.14, which establishes and provides for the administration of the Program Fund, with the following modifications.
Establishes eligibility criteria to require individuals to be an NC property owner experiencing financial hardship from job loss as a result of the COVID-19 pandemic and unable to make mortgage payments; currently enrolled in the State's unemployment programs; and have a household income no more than 350% of the federal poverty level. Provides for eligible participants to be awarded mortgage assistance funds directly paid to their mortgagee. Details loan requirements under the program, including setting a one member per household restriction, restricting the program to property owners whose property is their sole and primary residence, capping awards at $40,000, and setting loan terms at ten years with a 0% interest rate. Requires the balance of the loan to be forgiven at the end of the loan term unless the property has been sold for profit, as defined. Provides for housing counseling referrals for participants. Adds that the rulemaking exemption regarding application guidelines and notice and hearing requirements of GS 122A-5.14(c) apply to the act, and requires the Agency to include program information in its annual report required under GS 122A-5.14(d).
Establishes the Emergency Housing Office (Office) within the Division of Social Services of the Department of Health and Human Services (DHHS). Charges the Office with the collection of data on the homeless and at risk population, coordination with DHHS and other federal and local governments on distributing emergency aid and resources, and the provision of resources and referrals to nonprofits and other entities that offer assistance to the homeless and at risk population. Requires DHHS to submit a report to the specified NCGA committee and division at least semiannnually on specified homelessness data, service activities and demand, and any legislative and funding recommendations.
Requires unspent funds from the 2019-20 fiscal year to carry over to the 2020-21 fiscal year, appropriated to implement the act and requirements and limitations of the CARES Act.
Requires any funds awarded under the program and returned or repaid to be deposited to the Program Fund to implement the act and requirements and limitations of the CARES Act.
Bill Summaries: H1134 HOUSING AND FORECLOSURE PREVENTION ASSISTANCE.
Bill H 1134 (2019-2020)Summary date: May 18 2020 - View Summary