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Senate Bill 1553 |
Senate Author: Lucio et al. |
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Effective: 6-14-13 |
House Sponsor: Farias et al. |
Senate Bill 1553 amends the Government Code to repeal a provision providing for the expiration of the firefighter, law enforcement or security officer, and emergency medical services personnel home loan program and to continue the program and rename it as the Homes for Texas Heroes home loan program. The bill adds a professional educator and a veteran to the persons eligible for a loan under the program and sets out the qualifications for professional educators. The bill specifies that the funds set aside for the program are from the portion of state ceiling dedicated to the Texas State Affordable Housing Corporation for the purpose of issuing qualified mortgage bonds, rather than from the portion of state ceiling dedicated to the firefighter, law enforcement or security officer, and emergency medical services personnel home loan program. Finally, the bill authorizes the corporation to contract with the Texas Veterans Commission to provide other housing assistance to veterans receiving loans under the program.