STATEMENT OF PURPOSE
RS29654 / S1355
This legislation establishes the notification process for a credit transaction that is secured by a subordinate
lien on real property when the senior mortgage or other senior secured interest on real property comes under
foreclosure.
FISCAL NOTE
This legislation simply establishes process for communicating between a financial institution and a lien holder,
thus it does not mandate any appropriations and does not mandate any future increase in appropriations. There
is no anticipated fiscal impact.
Contact:
Senator Melissa Wintrow
(208) 332-1000
DISCLAIMER: This statement of purpose and fiscal note are a mere attachment to this bill and prepared by a proponent
of the bill. It is neither intended as an expression of legislative intent nor intended for any use outside of the legislative
process, including judicial review (Joint Rule 18).
Statement of Purpose / Fiscal Note Bill SOP/FN INTRODUCED: 02/25/2022, 10:36 AM