1.1.................... moves to amend the first committee engrossment to H.F. No. 2600
1.2as follows:
1.3Page 4, line 19, delete "and"
1.4Page 4, line 24, delete the period and insert "; and"
1.5Page 4, after line 24, insert:
1.6"(5) an employee of a non profit organization exempt from taxation under section
1.7501(c)(3) of the Internal Revenue Code if the organization is not otherwise engaged in the
1.8mortgage loan business, but is exclusively engaged in the financing of homeownership
1.9through a zero percent interest mortgage product for low and moderate income
1.10households, to the extent exempted by the commissioner through rule, advisory ruling,
1.11or interpretation, if the United States Department of Housing and Urban Development
1.12has authorized this exemption, and if the employee is certified for this exemption in a
1.13certification method set forth by rule, instruction, or procedure of the commissioner."