By Ellis S.B. No. 1502 75R1652 JRD-D A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to the transfer of certain money into the housing trust 1-3 fund. 1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-5 SECTION 1. Section 2306.205, Government Code, is amended by 1-6 adding Subsection (f) to read as follows: 1-7 (f) In addition to other amounts transferred into the 1-8 housing trust fund under this section, and subject to Subsection 1-9 (e), the department shall transfer into the fund the amount of any 1-10 administrative fees the department receives in relation to the 1-11 administration of its 501(c)(3) bond program that exceeds the 1-12 amount needed by the department to pay its overhead costs in 1-13 administering the program. In this subsection, "501(c)(3) bond 1-14 program" means: 1-15 (1) the department's issuance of bonds the proceeds of 1-16 which the department is obligated to lend only to organizations 1-17 that are exempt from certain forms of federal taxation under 1-18 Section 501(c)(3) of the Internal Revenue Code of 1986 (26 U.S.C. 1-19 Sec. 501(c)(3)); and 1-20 (2) the loans made by the department with the proceeds 1-21 of those bonds and the department's administration of those loans. 1-22 SECTION 2. This Act takes effect September 1, 1997. 1-23 SECTION 3. The importance of this legislation and the 1-24 crowded condition of the calendars in both houses create an 2-1 emergency and an imperative public necessity that the 2-2 constitutional rule requiring bills to be read on three several 2-3 days in each house be suspended, and this rule is hereby suspended.