SRC-TNM S.B. 210 75(R) BILL ANALYSIS Senate Research CenterS.B. 210 By: Harris State Affairs 2-23-97 As Filed DIGEST Currently, encumbrances are authorized to be properly fixed on homestead property for certain items. S.B. 210 sets forth provisions pertaining to a voluntary consensual encumbrance on homestead property for the purchase of an equity loan. PURPOSE As proposed, S.B. 210 outlines provisions pertaining to a voluntary consensual encumbrance on homestead property for the purchase of an equity loan. RULEMAKING AUTHORITY This bill does not grant any additional rulemaking authority to a state officer, institution, or agency. SECTION BY SECTION ANALYSIS SECTION 1. Amends Section 41.001(b), Property Code, to authorize encumbrances to be properly fixed on homestead property for an equity loan as defined by and made in compliance with Section 50, Article XVI, Texas Constitution. Makes a nonsubstantive change. SECTION 2. Provides that this Act takes effect on the date the constitutional amendment proposed by S.J.R. No. ______, 75th Legislature, Regular Session, 1997, takes effect. SECTION 3. Emergency clause.