STATEHOUSE –State Representative Mike Karickhoff (R-Kokomo) supported House Enrolled Act (HEA) 1141 which establishes the Mortgage Foreclosure Multistate Settlement Fund and designates money for a state home energy assistance program. The bill establishes the Mortgage Foreclosure Multistate Settlement Fund to distribute the estimated $46.8M received by the state related to litigation concerning mortgage foreclosure activities. The funds are to be used for foreclosure relief and housing programs, including housing counseling, legal assistance, foreclosure prevention hotlines and foreclosure mediation. “This is great legislation for Hoosiers and will help out families who are facing mortgage foreclosure issues,” said Rep. Karickhoff. “During this economic climate, many households are struggling and this legislation ensures that Hoosiers will get the aid they need when it comes to their homes.” The bill also specifies that the same amount of money that is collected from the repeal of the federal Low Income Home Assistance Program (LIHEAP) sales tax is to be transferred to LIHEAP for home owner energy assistance. This amount is predicted to range from $3.7M to $4.4M annually. “This legislation is twofold and also appropriates a substantial amount of funding to help provide energy assistance to low income Hoosiers. This is the type of legislation that really will make a difference in lives during the cold winter and hot summer months. It is great to know families will be provided with energy assistance when they need it the most.” Since the early 1980s, the federal government has annually appropriated funds to states to provide energy assistance to low-income families. Indiana’s energy assistance programs are primarily funded through the federal LIHEAP block grant. The state’s energy assistance program provides grants for winter heating assistance and summer cooling assistance. Governor Daniels recently signed HEA 1141 into law. For further information regarding foreclosure and energy assistant programs contact the Indiana Housing Community Development Authority at 1-800-872-0371. |
