City of Baltimore - File #: 08-0020R

• File #: 08-0020R
• Version: 0
• Name: In Support of State Legislation - Senate Bill 533 and House Bill 1242 - Creation of a Task Force to Study How to Improve Financial Literacy in the State
• Type: City Council Resolution
• Status: Adopted
• File created: 2/25/2008
• In control: City Council
• Final action: 2/25/2008
• Title: In Support of State Legislation - Senate Bill 533 and House Bill 1242 - Creation of a Task Force to Study How to Improve Financial Literacy in the State FOR the purpose of showing support for Senate Bill 533 and House Bill 1242 that provide for the creation of a Task Force to Study How to Improve Financial Literacy in the State; urging the Honorable Chair and Members of the Senate Education, Health, and Environmental Affairs Committee to give the bill a favorable report; requesting the Honorable Chair and Members of the Baltimore City Senate and House Delegation to the 2008 Maryland General Assembly to support passage of the legislation; and entreating the Governor to sign the legislation into law.
• Sponsors: Robert Curran, Helen L. Holton, Bill Henry, James B. Kraft, Nicholas C. D'Adamo, Sharon Green Middleton, Agnes Welch, Edward Reisinger, Warren Branch, Mary Pat Clarke, President Young, Belinda Conaway
• Indexes: Resolution

Date	Ver.	Action By	Action	Result
2/25/2008	0	City Council	Introduced
2/25/2008	0	City Council	Advanced to 2nd Reader on same day
2/25/2008	0	City Council	Adopted

* WARNING: THIS IS AN UNOFFICIAL, INTRODUCTORY COPY OF THE BILL.
THE OFFICIAL COPY CONSIDERED BY THE CITY COUNCIL IS THE FIRST READER COPY.
INTRODUCTORY*

CITY OF BALTIMORE
COUNCIL BILL R
(Resolution)

Introduced by: Councilmember Curran

A RESOLUTION ENTITLED

A COUNCIL RESOLUTION concerning
Title
In Support of State Legislation - Senate Bill 533 and House Bill 1242 - Creation of a Task Force to Study How to Improve Financial Literacy in the State

FOR the purpose of showing support for Senate Bill 533 and House Bill 1242 that provide for the creation of a Task Force to Study How to Improve Financial Literacy in the State; urging the Honorable Chair and Members of the Senate Education, Health, and Environmental Affairs Committee to give the bill a favorable report; requesting the Honorable Chair and Members of the Baltimore City Senate and House Delegation to the 2008 Maryland General Assembly to support passage of the legislation; and entreating the Governor to sign the legislation into law.
Body
Recitals

The current sub-prime lending and mortgage foreclosure crisis has adversely affected the City of Baltimore, causing approximately 404 foreclosures in Baltimore City over the past year. The number of properties foreclosed in Baltimore City represents nearly 10% of all foreclosures over the last year within the State of Maryland. In addition, the number of properties foreclosed within Baltimore City has risen nearly 500% over the last year.

These figures and other information put forth in the October 2007 Maryland Homeownership Preservation Task Force Report show that not only was this increase in foreclosure e...