National Mortgage Settlement Fund: allocations.

Existing law creates the National Mortgage Special Deposit Fund, the moneys in which are continuously appropriated and to be allocated by the Department of Finance. Existing law authorizes the Director of Finance to allocate or otherwise use the funds in the National Mortgage Special Deposit Fund to offset General Fund expenditures in the 2011–12, 2012–13, and 2013–14 fiscal years. This bill would provide legislative confirmation and ratification that allocations of funds from the National Mortgage Special Deposit Fund in the 2011–12, 2012–13, and 2013–14 fiscal years were consistent with the direction given to the Director of Finance, as specified. The bill would also confirm and ratify that, because those allocations were displayed in the Governor's proposed budget for the 2012–13 and 2013–14 fiscal years, and left unchanged in the budget acts adopted for the 2012–13 and 2013–14 fiscal years, the Legislature was aware of, and approved, the allocation and expenditure of funds from the National Mortgage Special Deposit Fund to offset General Fund expenditures in those fiscal years. The bill would make related declarations and a statement of legislative intent. This bill would appropriate $25,000 from the General Fund to the Department of Finance for legal fees and costs. This bill would declare that it is to take effect immediately as a bill providing for appropriations related to the Budget Bill.