SB 155-FN-A (2016): establishing the Financial Resources Mortgage (FRM) victims' contribution recovery fund for victims of the FRM fraud and continually appropriating a special fund.

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“SB 155-FN-A (2016): establishing the Financial Resources Mortgage (FRM) victims' contribution recovery fund for victims of the FRM fraud and continually appropriating a special fund.” Granite Record, https://graniterecord.org/bill/2016/sb155. Accessed 24 Oct. 2026.
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Granite Record. (n.d.). SB 155-FN-A (2016): establishing the Financial Resources Mortgage (FRM) victims' contribution recovery fund for victims of the FRM fraud and continually appropriating a special fund. Retrieved 24 Oct. 2026, from https://graniterecord.org/bill/2016/sb155
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Granite Record. “SB 155-FN-A (2016): establishing the Financial Resources Mortgage (FRM) victims' contribution recovery fund for victims of the FRM fraud and continually appropriating a special fund.” Accessed 24 Oct. 2026. https://graniterecord.org/bill/2016/sb155.
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@misc{bill-2016-sb155, title = {SB 155-FN-A (2016): establishing the Financial Resources Mortgage (FRM) victims' contribution recovery fund for victims of the FRM fraud and continually appropriating a special fund.}, howpublished = {Granite Record}, url = {https://graniterecord.org/bill/2016/sb155}, note = {Accessed 24 Oct. 2026} }

SB 155-FN-A (2016)

establishing the Financial Resources Mortgage (FRM) victims' contribution recovery fund for victims of the FRM fraud and continually appropriating a special fund.

  • Status: Signed into law
  • Term: 2015-2016
  • House committee: Commerce and Consumer Affairs
  • Senate committee: Executive Departments and Administration
  • Subject: Miscellaneous
  • Chapter law: 293

The Story

It was introduced on January 8, 2015 and referred to the Senate Executive Departments and Administration committee. The committee held a public hearing on February 18, 2015. The committee recommended that the Senate pass it. On March 5, 2015 the Senate voted to pass it on a voice vote, then referred it on to the Senate Finance committee. The committee recommended that the Senate pass it with changes (amendment 2015-0805s). The committee's amendment (0805s) was adopted on a voice vote on March 19, 2015, changing the text of the bill. On March 19, 2015 the Senate voted to pass it with changes on a voice vote and ordered it to a third reading. It crossed to the House and was referred to the House Commerce and Consumer Affairs committee. The committee held a public hearing on March 31, 2015. The committee met in executive session on April 28, 2015 to vote on its recommendation. The committee retained the bill, holding it for further work rather than reporting it out this year. The committee held work sessions on June 9, 2015, June 23, 2015, September 1, 2015, September 15, 2015, September 29, 2015, October 13, 2015 and October 20, 2015. The committee met in executive session on October 27, 2015 to vote on its recommendation. The committee voted 16–3 to recommend that the House pass it with changes (amendment 2015-2504h), and the report was placed on the regular calendar. The committee's amendment (2015-2504h) was adopted on a voice vote on January 6, 2016, changing the text of the bill. On January 6, 2016 the House voted to pass it with changes on a voice vote. On January 6, 2016 the bill was referred to the Finance committee. The committee held work sessions on February 2, 2016 and February 8, 2016. The committee met in executive session on March 2, 2016 to vote on its recommendation. The committee voted 23–2 to recommend that the House pass it with changes (amendment 2016-0440h), and the report was placed on the consent calendar. The committee's amendment (2016-0440h) was adopted on a voice vote on March 9, 2016, changing the text of the bill. On March 9, 2016 the House voted to pass it with changes on a voice vote. On March 31, 2016 the Senate voted to reject the other chamber's changes on a voice vote, on a motion by Sen. Sharon Carson. On May 11, 2016 the House adopted “House Accedes to Senate Request for CofC (Reps. Hunt, Kurk)” on a voice vote. A committee of conference met on May 19, 2016 and May 23, 2016 to try to settle the differences between the two chambers' versions of the bill. On June 1, 2016 the House adopted the conference report (1999c) on a voice vote. On June 1, 2016 the Senate adopted the conference report (1999c) on a voice vote. The bill was enrolled on June 1, 2016 — the final check of the text before it goes to the governor — and an enrolled bill amendment (2016-2144e) was adopted on a voice vote to correct technical errors found after passage. The governor signed it on June 21, 2016, making it Chapter 293 of the session laws.

Sponsors

Hearings and Sessions

  • February 18, 2015, 9:00 AM: hearing, Senate Executive Departments and Administration, LOB 101
  • March 31, 2015, 11:00 AM: public hearing, House Commerce and Consumer Affairs, LOB 302
  • April 28, 2015, 10:00 AM: executive session, House Commerce and Consumer Affairs, LOB 302
  • June 9, 2015, 1:15 PM: full committee work session, House Commerce and Consumer Affairs, LOB 302
  • June 23, 2015, 10:00 AM: full committee work session, House Commerce and Consumer Affairs, LOB 302
  • September 1, 2015, 11:00 AM: full committee work session, House Commerce and Consumer Affairs, LOB 302
  • September 15, 2015, 11:00 AM: full committee work session, House Commerce and Consumer Affairs, LOB 302
  • September 29, 2015, 11:00 AM: full committee work session, House Commerce and Consumer Affairs, LOB 302
  • October 13, 2015, 11:00 AM: full committee work session, House Commerce and Consumer Affairs, LOB 302
  • October 20, 2015, 11:00 AM: subcommittee work session, House Commerce and Consumer Affairs, LOB 302
  • October 27, 2015, 1:15 PM: executive session, House Commerce and Consumer Affairs, LOB 302
  • February 2, 2016, 10:45 AM: work session, House Finance, LOB 212
  • February 8, 2016, 10:00 AM: work session, House Finance, LOB 212
  • March 2, 2016, 1:00 PM: executive session, House Finance, LOB 210-211
  • May 19, 2016, 2:30 PM: committee of conference, SH 103
  • May 23, 2016, 8:30 AM: committee of conference, SH 103

Votes

  • March 5, 2015, Senate: Ought to Pass — voice vote, passed
  • March 19, 2015, Senate: Ought to Pass with Amendment 0805s — voice vote, passed
  • January 6, 2016, House: Ought to Pass with Amendment 2504h — voice vote, passed
  • March 9, 2016, House: Ought to Pass with Amendment 0440h — voice vote, passed
  • March 31, 2016, Senate: Nonconcur with House Amendments # 2504h and #0440h; Requests C of C — voice vote, passed
  • May 11, 2016, House: House Accedes to Senate Request for CofC (Reps. Hunt, Kurk) — voice vote, passed
  • June 1, 2016, House: Adopt Conference Committee Report — voice vote, passed
  • June 1, 2016, Senate: Adopt Conference Committee Report — voice vote, passed

The Docket

  • January 8, 2015: Introduced and Referred to Executive Departments and Administration
  • February 18, 2015: Hearing: 2/18/15, Room 101, LOB, 9:00 a.m.; SC10
  • February 18, 2015: Committee Report: Ought to Pass, 3/5/15; SC11
  • March 5, 2015: Ought to Pass: MA, VV; Refer to Finance Rule 4-5
  • March 11, 2015: Committee Report: Ought to Pass with Amendment #2015-0805s, 3/19/15; SC13
  • March 12, 2015: Introduced and Referred to Commerce and Consumer Affairs (in recess of 3/12/2015)
  • March 19, 2015: Committee Amendment 0805s, AA, VV
  • March 19, 2015: Ought to Pass with Amendment 0805s, MA, VV; OT3rdg
  • March 31, 2015: Public Hearing: 3/31/2015 11:00 AM LOB 302
  • April 21, 2015: Subcommittee Work Session: 4/21/2015 11:00 AM LOB 302
  • April 21, 2015: ===CANCELLED=== Work Session: 4/21/2015 11:00 AM LOB 302
  • April 28, 2015: Executive Session: 4/28/2015 10:00 AM LOB 302
  • April 28, 2015: Retained in Committee
  • June 9, 2015: Retained Bill - Full Committee Work Session: 6/9/2015 1:15 PM LOB 302
  • June 9, 2015: Retained Bill - Full Committee Work Session: 6/9/2015 1:15 PM LOB 302
  • June 9, 2015: Retained Bill - Full Committee Work Session: 6/9/2015 1:15 PM LOB 302
  • June 23, 2015: Retained Bill - Full Committee Work Session: 6/23/2015 10:00 AM LOB 302
  • September 1, 2015: Retained Bill - Full Committee Work Session: 9/1/2015 11:00 AM LOB 302
  • September 15, 2015: Retained Bill - Full Committee Work Session: 9/15/2015 11:00 AM LOB 302
  • September 29, 2015: Retained Bill - Full Committee Work Session: 9/29/2015 11:00 AM LOB 302
  • October 13, 2015: Retained Bill - Full Committee Work Session: 10/13/2015 11:00 AM LOB 302
  • October 20, 2015: Retained Bill - Subcommittee Work Session: 10/20/2015 11:00 AM LOB 302
  • October 27, 2015: Executive Session: 10/27/2015 1:15 PM LOB 302
  • November 12, 2015: Committee Report: Ought to Pass with Amendment #2015-2504h (NT) for Jan 6 (Vote 16-3; RC)
  • January 6, 2016: Amendment #2015-2504h: AA VV 01/06/2016
  • January 6, 2016: Ought to Pass with Amendment 2504h: MA VV 01/06/2016
  • January 6, 2016: Referred to Finance 01/06/2016
  • February 2, 2016: Division I Work Session: 02/02/2016 10:45 AM LOB 212
  • February 8, 2016: Division I Work Session: 02/08/2016 10:00 AM LOB 212
  • February 16, 2016: ==CANCELLED== Division I Work Session: 02/16/2016 10:00 AM LOB 212
  • March 2, 2016: Executive Session: 03/02/2016 01:00 PM LOB 210-211
  • March 3, 2016: ==CANCELLED== Executive Session: 03/03/2016 09:00 AM LOB 210
  • March 9, 2016: Committee Report: Ought to Pass with Amendment #2016-0440h (NT) for 03/09/2016 (Vote 23-2; CC)
  • March 9, 2016: Amendment #2016-0440h : AA VV 03/09/2016
  • March 9, 2016: Ought to Pass with Amendment 0440h: MA VV 03/09/2016
  • March 31, 2016: Sen. Carson Moved Nonconcur with House Amendments # 2504h and #0440h; Requests C of C, MA, VV; 03/31/2016
  • April 14, 2016: President Appoints: Senators Reagan, Woodburn, Avard; (In Recess 04/14/2016)
  • May 11, 2016: House Accedes to Senate Request for CofC (Reps. Hunt, Kurk): MA VV 05/11/2016
  • May 11, 2016: Speaker Appoints: Reps. Hunt, Gidge, Hurt, Weyler 05/11/2015
  • May 19, 2016: Committee of Conference Meeting: 05/19/2016, 02:30 pm, Room 103, SH
  • May 23, 2016: Committee of Conference Meeting: 05/23/2016, 08:30 am, Room 103, SH
  • May 23, 2016: Conferee Change; Senator Carson Replaces Senator Woodburn
  • May 24, 2016: Conference Committee Report #2016-1999c Filed 05/24/2016; As Amended by the House
  • June 1, 2016: Conference Committee Report 1999c: Adopted, VV 06/01/2016
  • June 1, 2016: Conference Committee Report 1999c, Adopted, VV; 06/01/2016
  • June 1, 2016: Enrolled Bill Amendment #2016-2144e : AA VV 06/01/2016
  • June 1, 2016: Enrolled Bill Amendment #2016-2144e Adopted, VV, (In recess of 06/01/2016)
  • June 1, 2016: Enrolled 06/01/2016
  • June 1, 2016: Enrolled (In recess 06/01/2016)
  • June 21, 2016: Signed by the Governor on 06/21/2016; Chapter 0293
  • June 22, 2016: I. Sections 4-6 Effective 07/01/2023
  • June 22, 2016: II. Remainder Effective 08/20/2016

Laws It Would Change

From the General Court