SRC-AXB S.J.R. 15 76(R)   BILL ANALYSIS


Senate Research Center   S.J.R. 15
76R3081  DWS-DBy: Harris
State Affairs
2/9/1999
As Filed


DIGEST 

Currently, Texas law provides three ways for the spouse of an incapacitated
person to sign transactions for the incapacitated spouse.  However,
language in transactions involving home equity loans refers only to the
required consent of a spouse.  This causes lenders to believe that normal
consent does not apply to home equity loans.  This bill would legitimize
the giving of consent by an incapacitated spouse regarding transactions
involving an encumbrance on a homestead. 

PURPOSE

As proposed, S.J.R. 15 requires the submission to the voters of a
constitutional amendment to make an incapacitated person's choice to extend
credit secured by a homestead bound by laws of the Texas Constitution. 

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 50, Article XVI, Texas Constitution, by adding
Subsection (t), as follows: 

(t)  Authorizes the required consent or execution of a contract by an
incapacitated spouse to be obtained as provided by law for an incapacitated
person. 

SECTION 2.  Requires this proposed constitutional amendment to be submitted
to the voters on November 2, 1999.  Sets forth the required language for
the ballot.