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S.B. 281 Enrolled

             1     

MORTGAGE AND FINANCIAL FRAUD INVESTIGATIONS

             2     
2012 GENERAL SESSION

             3     
STATE OF UTAH

             4     
Chief Sponsor: Benjamin M. McAdams

             5     
House Sponsor: Paul Ray

             6     
             7      LONG TITLE
             8      General Description:
             9          This bill creates the Mortgage and Financial Fraud Unit within the Office of the
             10      Attorney General to investigate and prosecute mortgage fraud and other financial fraud
             11      within the state.
             12      Highlighted Provisions:
             13          This bill:
             14          .    modifies the duties of the attorney general;
             15          .    creates the Mortgage and Financial Fraud Unit within the Office of the Attorney
             16      General to investigate and prosecute mortgage and other financial fraud throughout
             17      the state;
             18          .    authorizes the attorney general to administer the Mortgage and Financial Fraud
             19      Unit;
             20          .    creates the Mortgage and Financial Fraud Investigation and Prosecution Restricted
             21      Account; and
             22          .    makes technical changes.
             23      Money Appropriated in this Bill:
             24          This bill appropriates:
             25          .    to the Attorney General's Office, as a one-time appropriation:
             26              .    from the Mortgage and Financial Fraud Investigation and Prosecution Restricted
             27      Account, $2,000,000, subject to intent language that the appropriation is
             28      non-lapsing and shall be used to fund investigation and prosecution of mortgage
             29      and financial fraud throughout the state.


             30      Other Special Clauses:
             31          This bill takes effect on July 1, 2012.
             32      Utah Code Sections Affected:
             33      AMENDS:
             34          67-5-1.5, as enacted by Laws of Utah 2008, Chapter 116
             35      ENACTS:
             36          67-5-30, Utah Code Annotated 1953
             37          67-5-31, Utah Code Annotated 1953
             38     
             39      Be it enacted by the Legislature of the state of Utah:
             40          Section 1. Section 67-5-1.5 is amended to read:
             41           67-5-1.5. Special duties -- Employment of staff.
             42          (1) The attorney general may undertake special duties and projects as follows:
             43          (a) employment of child protection services investigators under Section 67-5-16 ;
             44          (b) employment of an Obscenity and Pornography Complaints Ombudsman under
             45      Section 67-5-18 ;
             46          (c) administration of the Internet Crimes Against Children Task Force under Section
             47      67-5-20 ;
             48          (d) administration of the Internet Crimes Against Children (ICAC) Unit under Section
             49      67-5-21 ;
             50          (e) administration of the Identity Theft Reporting Information System (IRIS) Program
             51      under Section 67-5-22 ;
             52          (f) administration of the Attorney General Crime and Violence Prevention Fund under
             53      Section 67-5-24 ; [and]
             54          (g) administration of the Safety Net Initiative as provided under Section 67-5-26 [.];
             55      and
             56          (h) administration of the Mortgage and Financial Fraud Unit under Section 67-5-30 .
             57          (2) As permitted by the provisions of this chapter, the attorney general may employ or


             58      contract with investigators, prosecutors, and necessary support staff to fulfill the special duties
             59      undertaken under this section.
             60          Section 2. Section 67-5-30 is enacted to read:
             61          67-5-30. Mortgage and Financial Fraud Unit creation -- Duties -- Employment of
             62      staff.
             63          (1) The attorney general may assist in efforts to prevent, investigate, and prosecute
             64      mortgage fraud, as described in Section 76-6-1203 , and other financial fraud, including
             65      working with other agencies of state and local government.
             66          (2) There is created within the Office of the Attorney General the Mortgage and
             67      Financial Fraud Unit to investigate and prosecute cases of mortgage fraud and other financial
             68      fraud.
             69          (3) The Mortgage and Financial Fraud Unit shall focus its efforts on detecting,
             70      investigating, deterring, and prosecuting mortgage fraud and other major financial fraud
             71      crimes.
             72          (4) The attorney general may employ investigators, prosecutors, and necessary support
             73      staff for the unit created under Subsection (2).
             74          Section 3. Section 67-5-31 is enacted to read:
             75          67-5-31. Mortgage and Financial Fraud Investigation and Prosecution Restricted
             76      Account.
             77          (1) There is created a restricted account within the General Fund known as the
             78      "Mortgage and Financial Fraud Investigation and Prosecution Restricted Account."
             79          (2) The restricted account includes:
             80          (a) $2,000,000 of deposits from the foreclosure fraud settlement agreement between
             81      the United States Justice Department, United States Department of Housing and Urban
             82      Development, and a bipartisan group of state attorneys general, including Utah's attorney
             83      general, Bank of America, Citi, JP Morgan Chase, GMAC, and Wells Fargo announced in
             84      February 2012; and
             85          (b) any other amount appropriated by the Legislature.


             86          (3) Money from the restricted account shall be used by the attorney general to:
             87          (a) investigate and prosecute mortgage and financial fraud throughout the state; and
             88          (b) fund mortgage and financial fraud investigation and prosecution staff.
             89          Section 4. Appropriation.
             90          Under the terms and conditions of Title 63J, Chapter 1, Budgetary Procedures Act, the
             91      following sums of money are appropriated from resources not otherwise appropriated, or
             92      reduced from amounts previously appropriated, out of the funds or accounts indicated for the
             93      fiscal year beginning July 1, 2012 and ending June 30, 2013. These are additions to any
             94      amounts previously appropriated for fiscal year 2013.
             95          To Mortgage and Financial Fraud Investigation and Prosecution Restricted Account
             96              From General Fund, one-time                
    $2,000,000

             97              Schedule of programs:
             98                  Mortgage and Financial Fraud Investigation
             99                  and Prosecution Restricted Account        $2,000,000
             100          To Attorney General, Criminal Division
             101              From General Fund - Mortgage and Financial Fraud Investigation
             102              and Prosecution Restricted Account, one-time
$2,000,000

             103              Schedule of programs:
             104                  Mortgage and Financial Fraud Investigation
             105                  and Prosecution Restricted Account        $2,000,000
             106          The Legislature intends that, under Section 63J-1-603 , the appropriations under this
             107      section shall not lapse and shall be used by the attorney general to investigate and prosecute
             108      mortgage and financial fraud throughout the state.
             109          Section 5. Effective date.
             110          This bill takes effect on July 1, 2012.


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