NY State Fin L § 99-V (2021)
2021 New York Laws STF - State Finance Article 6 - Funds of the State 99-V - Mortgage Settlement Proceeds Trust Fund.

* §  99-v. Mortgage settlement proceeds trust fund. 1. There is hereby   established in the joint  custody  of  the  state  comptroller  and  the   commissioner  of  taxation  and finance a trust and agency fund known as   the "mortgage settlement proceeds trust fund".2. Such fund shall consist of monies paid pursuant to  the  settlement   agreement  dated November nineteenth, two thousand thirteen between J.P.   Morgan Securities LLC (f/k/a "Bear, Stearns & Co. Inc."), JPMorgan Chase   Bank, N.A., EMC Mortgage LLC (f/k/a "EMC Mortgage Corporation") and  the   People  of  the  State  of  New  York  and that were transferred thereto   pursuant to law from the department of  law  restitution  fund  and  the   general fund.3.  Up  to $439,549,965 of the monies of the fund shall be distributed   in accordance with a plan approved  in  a  memorandum  of  understanding   executed by the director of the budget, the speaker of the assembly, and   the   temporary   president   of  the  senate,  or  their  designee,  in   consultation with the  commissioner  of  the  division  of  housing  and   community  renewal, to provide compensation to the state of New York and   its communities for harms purportedly caused by the  allegedly  unlawful   conduct of J.P. Morgan Securities LLC (f/k/a "Bear, Sterns & Co. Inc."),   JPMorgan  Chase  Bank,  N.A.,  EMC  Mortgage  LLC  (f/k/a  "EMC Mortgage   Corporation") for purposes intended to avoid  preventable  foreclosures,   to  ameliorate  the  effects  of  the foreclosure crisis, to enhance law   enforcement efforts to prevent and prosecute financial fraud  or  unfair   or  deceptive  acts or practices, and to otherwise promote the interests   of the investing public. Such permissible purposes for allocation of the   funds include, but are not limited to,  providing  funding  for  housing   counselors,  state  and local foreclosure assistance hotlines, state and   local  foreclosure  mediation  programs,   legal   assistance,   housing   remediation  and anti-blight projects, and for the training and staffing   of, and capital expenditures required by, financial fraud  and  consumer   protection  efforts, and for any other purpose consistent with the terms   of the settlement agreement  dated  November  nineteenth,  two  thousand   thirteen  between J.P. Morgan Securities LLC (f/k/a "Bear, Stearns & Co.   Inc."), JPMorgan Chase Bank, N.A., EMC Mortgage LLC (f/k/a "EMC Mortgage   Corporation") and the People of the State of New York.4. Up to $81,500,234 of the monies of the fund shall be distributed in   accordance with a plan developed by  the  attorney  general  to  provide   compensation  to  the  state  of  New York and its communities for harms   purportedly caused by the allegedly  unlawful  conduct  of  J.P.  Morgan   Securities  LLC (f/k/a "Bear, Stearns & Co. Inc."), JPMorgan Chase Bank,   N.A., EMC Mortgage LLC (f/k/a "EMC Mortgage Corporation"), for  purposes   intended to avoid preventable foreclosures, to ameliorate the effects of   the  foreclosure  crisis,  to enhance law enforcement efforts to prevent   and prosecute financial fraud or unfair or deceptive acts or  practices,   and  to  otherwise  promote  the interests of the investing public. Such   permissible purposes for allocation of the funds include,  but  are  not   limited  to,  providing  funding for housing counselors, state and local   foreclosure assistance hotlines, state and local  foreclosure  mediation   programs,   legal   assistance,   housing  remediation  and  anti-blight   projects, and for the training and staffing of, and capital expenditures   required by, financial fraud and consumer protection  efforts,  and  for   any  other purpose consistent with the terms of the Settlement Agreement   dated November 19, 2013 between J.P. Morgan Securities LLC (f/k/a "Bear,   Stearns & Co. Inc.") JPMorgan Chase Bank, N.A., EMC Mortgage LLC  (f/k/a   "EMC Mortgage Corporation") and the People of the State of New York.* NB There are 2 § 99-v's