BILL ANALYSIS Ó ------------------------------------------------------------ |SENATE RULES COMMITTEE | AB 2475| |Office of Senate Floor Analyses | | |1020 N Street, Suite 524 | | |(916) 651-1520 Fax: (916) | | |327-4478 | | ------------------------------------------------------------ CONSENT Bill No: AB 2475 Author: Assembly Veterans Affairs Committee Amended: As introduced Vote: 21 SENATE VETERANS AFFAIRS COMMITTEE : 7-0, 6/12/12 AYES: Correa, Cannella, Berryhill, Calderon, Negrete McLeod, Rubio, Lieu NO VOTE RECORDED: Runner SENATE JUDICIARY COMMITTEE : 4-0, 6/26/12 AYES: Evans, Harman, Corbett, Leno NO VOTE RECORDED: Blakeslee SENATE APPROPRIATIONS COMMITTEE : Senate Rule 28.8 ASSEMBLY FLOOR : 72-0, 5/3/12 - See last page for vote SUBJECT : Military service protections: real and personal property rights SOURCE : Author DIGEST : This bill extends from three months to nine months the time after a servicemembers period of military service is over during which foreclosure upon the servicemember's home is prohibited. This bill provides that no sale, foreclosure, or seizure of property for nonpayment of any sum due under any obligation secured by CONTINUED AB 2475 Page 2 mortgage, trust deed, or other security, shall be valid if made during the period of military service or within nine months thereafter, except pursuant to an agreement between the parties, unless upon an order previously granted by the court and a return thereto made and approved by the court. ANALYSIS : Existing law: 1.Provides that no sale, foreclosure, or seizure of property for nonpayment of any sum due under any obligation secured by mortgage, trust deed, or other security, as specified, shall be valid if made during the period of military service or within three months thereafter, except as provided. 2.Specifies a number of other civil obligations and liabilities for which the service member may petition a court for relief, including, but not limited to, relief from: A. Eviction from the member's primary residence; B. Obligations under a lease for specified residential and nonresidential property; C. Nonpayment of an installment under a contract for purchase of real or personal property; D. Taxes or assessments, whether general or special, other than taxes on income, as provided. 1.Pursuant to the federal Servicemembers Civil Relief Act, authorizes a stay of proceedings and adjustment of obligation in an action to enforce an obligation on a mortgage that is filed during or within nine months after a servicemember's period of military service. FISCAL EFFECT : Appropriation: No Fiscal Com.: Yes Local: Yes SUPPORT : (Verified 8/7/12) American Legion, Department of California AMVETS, Department of California California Association of County Veterans Service Officers California Bankers Association CONTINUED AB 2475 Page 3 California State Commanders Veterans Council Vietnam Veterans of America, California State Council ARGUMENTS IN SUPPORT : The California Bankers Association (CBA), in support, notes that this bill would conform California to the federal SCRA and that they have "worked collaboratively with interested parties to advance reasonable measures that improve consumer protections?." The American Legion - Department of California, the AMVETS - Department of California, the California Association of County Veterans Service Officers, the California State Commanders Veterans Council, and the Vietnam Veterans of America-California State Council supports the "effort to help service members with foreclosure issues to have a little more time after their military service to try and resolve these matters." ASSEMBLY FLOOR : 72-0, 5/3/12 AYES: Achadjian, Alejo, Allen, Ammiano, Atkins, Beall, Bill Berryhill, Block, Blumenfield, Bradford, Brownley, Buchanan, Butler, Charles Calderon, Campos, Carter, Cedillo, Chesbro, Conway, Cook, Davis, Dickinson, Donnelly, Eng, Feuer, Fong, Fuentes, Beth Gaines, Galgiani, Garrick, Gatto, Gordon, Gorell, Grove, Hagman, Halderman, Harkey, Hayashi, Hill, Huber, Hueso, Huffman, Jeffries, Knight, Lara, Logue, Bonnie Lowenthal, Ma, Mansoor, Mendoza, Miller, Mitchell, Monning, Morrell, Nestande, Nielsen, Norby, Olsen, Pan, Perea, V. Manuel Pérez, Portantino, Silva, Skinner, Solorio, Swanson, Torres, Valadao, Wagner, Wieckowski, Yamada, John A. Pérez NO VOTE RECORDED: Bonilla, Fletcher, Furutani, Hall, Roger Hernández, Jones, Smyth, Williams RM:n 11/13/12 Senate Floor Analyses SUPPORT/OPPOSITION: SEE ABOVE **** END **** CONTINUED AB 2475 Page 4 CONTINUED