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1997 SESSION

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HB 2049 Third-party taxpayer agreements.

Introduced by: Shirley F. Cooper | all patrons    ...    notes | add to my profiles

SUMMARY:

Third-party taxpayer agreements. Stipulates that treasurers of localities are without authority to sanction mortgage loans when approving third-party tax payment agreements. The bill thus clarifies that persons making loans to taxpayers pursuant to such agreements are not exempt from the provisions of the Virginia Mortgage Broker and Lender Act. The bill also makes a technical amendment in § 6.1-330.55 to clarify that such agreements may provide for the payment of interest in excess of 12 percent.


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