SRC-JBJ S.J.R. 22 76(R)   BILL ANALYSIS


Senate Research Center   S.J.R. 22
76R5393 MLS-FBy: Harris
State Affairs
2/22/1999
As Filed


DIGEST 

Currently, a person can secure a home equity loan as result of a
constitutional amendment (S.J.R. 31, 75th Legislature) approved by the
Texas voters in 1997.  Because the home equity amendment was a stand-alone
constitutional amendment, some related provisions require clarification
after voter adoption. In addition to making those nonsubstantive and
conforming changes, S.J.R. 22 authorizes a home equity loan on an urban
parcel of land that is not greater 10 ten acres, rather than one acre. 

PURPOSE

As proposed, S.J.R. 22 requires the submission to the voters of a
constitutional amendment to authorize a home equity loan on an urban parcel
of land that is not greater than 10 acres, rather than one acre. 

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 51, Article XVI, Texas Constitution, to require
a homestead in a city, town, or village to consist of a lot or contiguous
lots that amount to not more than 10 acres, rather than one acre, of land.
Requires a homestead in a city, town, or village to be used for the
purposes of a home, rather than as a home or as a place to exercise the
calling of business, of the homestead claimant. Provides that a release or
refinance of an existing lien against a homestead as to a part of the
homestead does not create an additional burden on the part of the homestead
property that is unreleased or subject to the refinance, and a new lien is
not invalid only for that reason.  Makes conforming changes. 

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