(1) The Real Estate Law provides for the licensure and regulation of real estate brokers and salespersons by the Real Estate Commissioner. Existing law authorizes the commissioner to suspend or revoke the license of a real estate licensee or corporation, or to deny the issuance of a license to an applicant or corporation, for specified violations. This bill would further authorize the commissioner to suspend or revoke those licenses, or to deny issuance of those licenses, upon a violation of specified federal lending laws or regulations or upon the violation or failure to comply with specified provisions of state law relating to mortgages. (2) Existing law imposes certain limitations and prohibitions on licensed persons, as defined, with respect to the making of a covered loan, defined as a consumer loan in which the original principal balance of the loan does not exceed the most current conforming loan limit for a single-family first mortgage loan established by the Federal National Mortgage Association in the case of a mortgage or deed of trust, and as specified. Existing law does not regulate or define the term "higher-priced mortgage loan." This bill would establish "higher-priced mortgage loans," as defined, as a new category of regulated loans. The bill would, among other things, limit prepayment penalties and prohibit provisions for negative amortization. The bill would prohibit a licensed person, as defined, from making false, deceptive, or misleading statements or representations in connection with higher-priced mortgage loans. The bill would also, among other things, prohibit a mortgage broker, as defined, who arranges higher-priced mortgage loans with prepayment penalties from receiving a compensation that exceeds certain amounts. The bill would provide that a violation of the provisions regulating higher-priced mortgage loans by a licensed person is also a violation of the person's licensing law. The bill would authorize a licensing agency or the Attorney General to enforce the provisions regulating higher-priced mortgage loans. The bill would authorize civil penalties in an amount up to $10,000 against a licensed person who willfully and knowingly violates the provisions regulating higher-priced mortgage loans, and would nullify prepayment penalties or yield spread premiums that violate these provisions. The bill would also establish specified duties for mortgage brokers performing mortgage brokerage services for higher-priced mortgage loans. The bill's provisions would apply to higher-priced mortgage loans originated on or after July 1, 2010. (3) Existing law imposes certain limitations and prohibitions on specified licensees, including commercial banks, credit unions, finance lenders, and residential mortgage lenders, with respect to the making of consumer loans. This bill would provide that a violation of specified federal lending laws or regulations by those licensees is also a violation of the licensing law of the licensee. The bill would also provide that a mortgage broker, as defined, providing mortgage brokerage services, as defined, to a borrower is the fiduciary of the borrower, and any violation of the broker's fiduciary duties is a violation of the mortgage broker's licensing law and specified civil penalty and liability provisions. The bill would further provide that this fiduciary duty includes a requirement that the mortgage broker place the economic interest of the borrower ahead of his or her own economic interest. (4) Because a violation of the bill's provisions by certain licensees may be punished as crimes under the licensing law of the licensees, the bill would impose a state-mandated local program. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason.
Sponsored bills
Existing law provides for the licensure and regulation of accountants by the California Board of Accountancy in the Department of Consumer Affairs. Existing law prohibits a person or firm from using any title or designation in connection with the designation "certified public accountant" or "public accountant" that is false or misleading. A violation of specified provisions related to the practice of accountancy is a crime. This bill would require the holder of an inactive accountancy license, when using specified CPA titles, designations, or references on correspondence, Internet Web sites, business cards, nameplates, or name plaques, to also specify that he or she is inactive. Because a violation of this requirement would be a crime, the bill would impose a state-mandated local program. The bill would also make a technical, nonsubstantive change to a related provision. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason.
Existing law makes it an infraction with a minimum $500 fine and maximum $3,000 fine for a person to abandon a vessel upon a public waterway or public or private property without the express or implied consent of the owner or person in lawful possession or control of the property, except for the urgent and immediate concern for the safety of those aboard the vessel. Existing law provides that 80% of the moneys collected as fines shall be deposited in the Abandoned Watercraft Abatement Fund. Upon appropriation by the Legislature, moneys in the fund may be used for grants to be awarded by the Department of Boating and Waterways to local agencies for the abatement and removal of abandoned, wrecked, and dismantled vessels, or parts of those vessels. This bill would increase the minimum fine to $1,000. The bill would also allow the moneys in the fund to be used for the abatement and removal of a hulk, derelict, wreck, or parts of any ship, or other watercraft sunk, beached, or allowed to remain in an unseaworthy or dilapidated condition upon municipal or other public corporation property, and for the disposal of a surrendered vessel, as defined. This bill would prohibit the state from assuming liability for any injuries or damages to a person or entity, public or private, connected to or resulting from the processing or disposal of a surrendered vessel. These changes would be repealed as of January 1, 2014. Existing law authorizes wrecked property that is an unseaworthy derelict or hulk, or abandoned property removed from a navigable waterway, as specified, to be sold or otherwise disposed of by the public agency that removed or caused the removal of the property, subject to specified conditions, including that the property has been appraised by disinterested persons, and has an estimated value of less than $2,000. This bill would, until January 1, 2014, except from these specified conditions the removal and sale or disposition of a surrendered vessel, as defined. The bill would require the Department of Boating and Waterways to track the number of surrendered vessels accepted by a public agency that disposes of those vessels using grant funds from the Abandoned Watercraft Abatement Fund from January 1, 2010, to January 1, 2013, inclusive, and the total amount of expenditure from that fund for surrendered vessels during the same period. The bill would require the department to report that information to the Assembly Committee on Transportation and the Senate Committee on Natural Resources and Water with any recommendations for revising or continuing the use of fund moneys for those purposes.
The Sales and Use Tax Law imposes a tax on retailers measured by the gross receipts from the sale of tangible personal property sold at retail in this state, or on the storage, use, or other consumption in this state of tangible personal property purchased from a retailer for storage, use, or other consumption in this state, measured by sales price. That law, with certain exceptions, defines a retailer as a seller who makes any retail sale of tangible personal property and as a person who makes more than 2 retail sales of tangible personal property during any 12-month period, and defines a retail sale as a sale of tangible personal property for any purpose other than resale in the regular course of business. This bill would specify, until January 1, 2012, that a qualified itinerant vendor, as defined, is a consumer, and not a retailer, of tangible personal property owned and sold by the qualified itinerant vendor, except for alcoholic beverages or items sold for more than $100, so that the retail sale subject to tax is the sale of tangible personal property to the qualified itinerant vendor. The Bradley-Burns Uniform Local Sales and Use Tax Law authorizes counties and cities to impose local sales and use taxes in conformity with the Sales and Use Tax Law, and the Transactions and Use Tax Law authorizes districts, as specified, to impose transactions and use taxes in conformity with the Sales and Use Tax Law. Exemptions from state sales and use taxes are incorporated in these taxes. Section 2230 of the Revenue and Taxation Code provides that the state will reimburse counties and cities for revenue losses caused by the enactment of sales and use tax exemptions. This bill would provide that, notwithstanding Section 2230 of the Revenue and Taxation Code, no appropriation is made and the state shall not reimburse local agencies for sales and use tax revenues lost by them pursuant to this bill. This bill would take effect immediately as a tax levy, but its operative date would depend on its effective date.
Existing law, the Highway Safety, Traffic Reduction, Air Quality, and Port Security Bond Act of 2006, authorizes the issuance of $19.925 billion of general obligation bonds for specified purposes. Existing law requires the deposit of $1 billion of the bond proceeds in the Transit System Safety, Security, and Disaster Response Account to be used, upon appropriation, for capital projects that provide increased protection against a security and safety threat, and for capital expenditures to increase the capacity of transit operators to develop disaster response transportation systems that can move people, goods, and emergency personnel and equipment in the aftermath of a disaster impairing that movement. Existing law requires the allocation of 25% of these funds for capital expenditures to regional public waterborne transit agencies authorized to operate a regional public water transit system, as specified, and requires the California Emergency Management Agency (Cal EMA) to administer a grant application and award program for transit agencies eligible to receive the funds. Existing law requires Cal EMA to select eligible projects to receive those grants by February 1 of each fiscal year in which funds are appropriated for that purpose. This bill would additionally require Cal EMA, by February 1 of each fiscal year, in which funds are appropriated for that purpose, to provide the Controller with a list of projects and the sponsoring agencies eligible to receive an allocation. The bill would require the Controller, upon receipt of this information, to commence any necessary actions to allocate funds to those agencies, as specified.
This measure would recognize the pioneering work of promotores and community health workers in delivering vital and cost-effective health care services in communities throughout California and declare October 2009 as California Promotores Month.
This measure would create the Joint Committee for the Protection of Lake Tahoe. The measure would require the committee to consist of 8 members, who shall include 4 Senators appointed by the Senate Committee on Rules and 4 Assembly Members appointed by the Speaker of the Assembly. In addition, this measure would require the members to meet at various times and places on or before December 31, 2009. This measure would authorize the termination of the committee on November 30, 2010.
This measure would make various statements regarding the importance of New United Motor Manufacturing, Inc. (NUMMI) to the California economy and would declare the necessity for the Legislature to utilize its vested powers to keep NUMMI in California.
This measure would proclaim October 23 to October 31, 2009, inclusive, as Red Ribbon Week, and would encourage all Californians to help build drug-free communities and participate in drug prevention activities.
This measure would recognize September 2009 as Alcohol and Drug Addiction Recovery Month in California in order to raise awareness of the importance of substance use disorders treatment and to help those suffering from substance use disorders and their families to receive treatment.