FORTY-NINTH LEGISLATURESB 342/a

FIRST SESSION, 2009

March 3, 2009

Madam President:

    Your FINANCE COMMITTEE, to whom has been referred

SENATE BILL 342, as amended

has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:

    1. Strike Senate Judiciary Committee Amendment 14.

    2. On page 8, strike lines 21 through 25 in their entirety and on page 9, strike lines 1 and 2 in their entirety.

    3. On page 22, between lines 1 and 2, insert a new subsection as follows:

         "D. For the purposes of implementing an orderly and efficient licensing process, the director may establish licensing rules and interim procedures for licensing and acceptance of applications. For individuals previously registered or licensed pursuant to the Mortgage Loan Company and Loan Broker Act, the director may establish expedited review and licensing procedures.".

    4. On page 101, strike lines 15 through 17 in their entirety and insert in lieu thereof the following new section:

    "Section 61. EFFECTIVE DATE.--

         A. The effective date of the provisions of Sections 4 and 16 of this act is July 31, 2010.

         B. The effective date of the provisions of Sections 1 through 3, 5 through 15 and 17 through 60 of this act is July 31, 2009.".

                               Respectfully submitted,

                               __________________________________

                               John Arthur Smith, Chairman

Adopted_______________________ Not Adopted_______________________

          (Chief Clerk) (Chief Clerk)

                  Date ________________________

The roll call vote was 10 For 0 Against

Yes:     10

No:      0

Excused: Cisneros

Absent:  None

SB0342FC1                                                  .177978.2