Enrolled Bill Summary

House Bill 1416	House Author:  Corte, Frank et al.
Effective:  9-1-07	Senate Sponsor:  Van de Putte

            House Bill 1416 amends the Natural Resources Code to authorize the Veterans' Land Board to sell loans for the purchase of land at a public or private sale with or without public bidding. The bill provides for disposition of the proceeds from such a sale.  The bill prohibits the board from taking certain actions that could impair future loan sales or the market value of a loan.  Finally, the bill authorizes the board to allow a person to combine a land loan with certain home loans made by the board.