AB 672

Of the moneys received by the state as a result of the national mortgage

foreclosure settlement, $25,600,000 will be deposited in the general fund as general

purpose revenue (GPR). This bill allocates that GPR as follows:

1. The Department of Children and Families must provide $10,000,000 in

additional aid under its emergency assistance to needy persons program to eligible

persons who are homeless or facing impending homelessness due to natural disaster

or foreclosure.

2. The Department of Financial Institutions must provide $10,000,000 in

grants to assist nonprofit organizations and governmental bodies for the purpose of

foreclosure mediation and foreclosure prevention.

3. The Department of Veterans Affairs must provide $3,000,000 in housing

vouchers for chronically homeless veterans and in grants to veterans for preventing

foreclosures on veterans' primary residences.

4. The Department of Agriculture, Trade and Consumer Protection (DATCP)

must provide a grant of $1,600,000 to the Tenant Resource Center (TRC) in Madison

to enable the TRC to expand its operations statewide, establish physical offices in the

five counties with the highest rates of foreclosure, and provide services related to

foreclosure prevention and tenant mediation. DATCP must first approve a plan

submitted by the TRC for the use of the funds, and the TRC must submit to DATCP,

within six months of using the funds, a report detailing how the funds were used.

5. The director of state courts must provide a grant of $1,000,000 to the

Milwaukee Foreclosure Mediation Program (MFMP) for its general operations. The

MFMP must enter into an agreement with the director of state courts that specifies

the conditions for the use of the funds, and the MFMP must submit to the director

of state courts, within six months of using the funds, a report detailing how the funds

were used.