5148874 Resolution 20-622, "National Mortgage Licensing System Congressional Review Emergency Declaration Resolution of 2014"

A RESOLUTION

 

20-622 

 

                              IN THE COUNCIL OF THE DISTRICT OF COLUMBIA

 

October 7, 2014

 

 

To declare the existence of an emergency, due to congressional review, with respect to the need to provide for the District’s participation in the National Mortgage Licensing System and Registry.

 

            RESOLVED, BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, That this resolution may be cited as the “National Mortgage Licensing System Congressional Review Emergency Declaration Resolution of 2014”.

 

            Sec. 2. (a) Congressional review emergency legislation is necessary to prevent a gap in the legal authority of the Department of Insurance, Securities and Banking to be enrolled in the National Mortgage Licensing System and Registry between the expiration of the Nationwide Mortgage Licensing System Conformity Emergency Act of 2014, effective July 10, 2014 (D.C. Act 20-374; 61 DCR 7230) (“emergency act”) and the effective date of the Nationwide Mortgage Licensing System Conformity Temporary Act of 2014, enacted on July 31, 2014 (D.C. Act 20-389; 61 DCR 8063) (“temporary act”).

            (b) The emergency act expires on October 8, 2014, and the temporary act is not projected to become law until October 31, 2014.

            (c) It is important that the provisions of the emergency act continue in effect, without interruption, until the temporary act is in effect.

 

Sec. 3. The Council of the District of Columbia determines that the circumstances enumerated in section 2 constitute emergency circumstances making it necessary that the
National Mortgage Licensing System Conformity Congressional Review Emergency Act of 2014 be adopted after a single reading.

 

Sec. 4. This resolution shall take effect immediately.