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A JOINT RESOLUTION
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proposing a constitutional amendment creating the workforce |
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housing fund to facilitate the development of affordable workforce |
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housing. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Article III, Texas Constitution, is amended by |
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adding Section 68 to read as follows: |
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Sec. 68. (a) The workforce housing fund is created as a |
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special fund in the state treasury. Money in the fund may be used |
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only to provide grants and low-interest loans to municipalities for |
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the purposes of facilitating the development of affordable |
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workforce housing. The fund shall be administered by the Texas |
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Department of Housing and Community Affairs or that department's |
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successor in function. |
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(b) The fund consists of: |
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(1) money appropriated to the board for a purpose of |
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the fund; |
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(2) repayment of principal and interest from loans |
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made from the fund; |
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(3) money the board transfers to the fund from any |
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available source; |
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(4) depository interest allocable to the fund and |
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other investment returns on money in the fund; |
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(5) money from gifts, grants, or donations to the |
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fund; and |
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(6) any other fees or sources of revenue that the |
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legislature may dedicate for deposit to the fund. |
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(c) The legislature by general law shall provide for the |
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manner in which the assets of the workforce housing fund may be |
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used, subject to the limitations provided by this section. The |
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legislature by general law may provide for costs of investment of |
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the workforce housing fund to be paid from that fund. |
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(d) Money in the workforce housing fund is dedicated by this |
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constitution for purposes of Section 22, Article VIII, of this |
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constitution. |
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SECTION 2. This proposed constitutional amendment shall be |
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submitted to the voters at an election to be held November 7, 2023. |
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The ballot shall be printed to provide for voting for or against the |
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proposition: "The constitutional amendment creating the workforce |
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housing fund to facilitate the development of affordable workforce |
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housing." |