By statute and ordinance, the Real Estate Prosecution Trust Fund Committee was created to distribute dedicated funds for the prosecution of real estate fraud within San Francisco. California Government Code Section 27388 requires counties to collect $2.00 per every real estate instrument recorded to be placed in a Real Estate Prosecution Trust Fund. The funds are to be distributed by the county chief administrative officer, as determined by a Real Estate Prosecution Trust Fund Committee to district attorneys and local law enforcement agencies for the purpose of determining, investigating and prosecuting real estate fraud crimes. The committee must include the county chief administrative officer, the district attorney and the chief officer responsible for consumer protection within the county. The police department and the district attorney’s office provide status reports on fund expenditures. City and County of San Francisco Ordinance Number 413-97 conforms to the statute. The committee meets on an annual basis.
Last updated: 5/21/2010 3:12:23 PM