LCO No. 2247 1 of 1
General Assembly Proposed Bill No. 6594
January Session, 2019
LCO No. 2247
Referred to Committee on BANKING
Introduced by:
REP. LUXENBERG, 12th Dist.
AN ACT ESTABLISHING A SURCHARGE ON MORTGAGE
ORIGINATION TO EXPAND FUNDING FOR CRUMBLING CONCRETE
FOUNDATIONS.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:
That the general statutes be amended to require banks and 1
mortgage lenders to pay a one-hundred-dollar surcharge on each 2
residential mortgage loan originated for property in this state during 3
the period from July 1, 2019, to July 1, 2029, which surcharge shall not 4
be passed down to the borrower, and shall be used to expand funding 5
for the Connecticut Foundation Solutions Indemnity Company, LLC. 6
Statement of Purpose:
To expand funding for the Connecticut Foundation Solutions
Indemnity Company, LLC.