This is not the official budget document.

Budget Summary FY2014

Division of Banks
Data Current as of:  9/11/2013





FISCAL YEAR 2014 BUDGET SUMMARY ($000)
ACCOUNT FY2014
Conference
FY2014
Vetoes
FY2014
Overrides
FY2014
GAA
Division of Banks 16,055 0 0 16,055
Loan Originator Administration and Consumer Counseling Program 2,650 0 0 2,650
TOTAL    18,705 0 0 18,705 0  

Hide line item language

account description amount
DIVISION OF BANKS 18,704,837
 
Direct Appropriations
7006-0010 Division of Banks
For the operation of the division of banks; provided, that notwithstanding any general or special law to the contrary, the division shall assess 100 per cent of the amount appropriated in this item and the associated fringe benefits costs for personnel paid from this item upon financial institutions which the division currently regulates under section 2 of chapter 167 of the General Laws
16,054,837

account description amount
Retained Revenues
7006-0011 Loan Originator Administration and Consumer Counseling Program
For the costs incurred by the division of banks associated with licensure of loan originators under chapter 255F of the General Laws; provided, that the division may expend revenues in an amount not to exceed $2,650,000 received from administrative fees associated with the licensure fees and from civil administrative penalties under said chapter 255F; provided further, that the division may expend from such revenue an amount to be determined by the commissioner of banks as grants for the operation of a program for best lending practices, first-time homeowner counseling for non-traditional loans and 10 or more foreclosure education centers under section 16 of chapter 206 of the acts of 2007 and that the grants shall be awarded through a competitive application process under criteria established by the division; and provided further, that for the purpose of accommodating timing discrepancies between the receipt of revenues and related expenditures, the division may incur expenses and the comptroller may certify for payment amounts not to exceed the lower of this authorization or the most recent revenue estimate as reported in the state accounting system
2,650,000