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.