SRC-AXB S.B. 1509 76(R)BILL ANALYSIS


Senate Research CenterS.B. 1509
By: Truan
Veterans Affairs
6/30/1999
Enrolled


DIGEST 

Currently, laws regulating a veteran's right to purchase land tracts do not
address the issue of existing outstanding indebtedness, and prohibit a
veteran from purchasing multiple tracts of land. S.B. 1509 sets forth
provisions regarding the maximum number and amount of certain veteran's
loans.  

PURPOSE

As enrolled, S.B. 1509 sets forth provisions regarding the maximum number
and amount of  certain veteran's loans. 

RULEMAKING AUTHORITY

Rulemaking authority is granted to the Veterans' Land Board in SECTION 1
(Section 161.236, Natural Resources Code) and SECTION 2 (Section
162.011(f), Natural Resources Code) of this bill. 

SECTION BY SECTION ANALYSIS

SECTION 1.  Amends Section 161.236, Natural Resources Code, to authorize
the Veterans' Land Board to create rules to determine the number of tracts
of land that a veteran is authorized to purchase.  Deletes text regarding a
prohibition. 

SECTION 2.  Amends Section 162.011, Natural Resources Code, by amending
Subsection (c) and adding Subsection (f), to provide that the amounts
allocable to a home mortgage loan may not exceed the maximum amount
allowable for a similar home mortgage loan through the United States
Department of Veterans Affairs or a successor agency.  Authorizes the
Veterans' Land Board to create rules to determine the number of loans that
a veteran is authorized to receive under this chapter.  Deletes text
setting forth a maximum loan amount.   

SECTION 3.  Emergency clause.
  Effective date:  upon passage.