By Carona S.B. No. 48 76R1069 DWS-D A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to the adoption of rules to interpret home equity lending 1-3 law. 1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-5 SECTION 1. Subchapter D, Chapter 11, Finance Code, is 1-6 amended by adding Section 11.3041 to read as follows: 1-7 Sec. 11.3041. HOME EQUITY LENDING RULES. (a) The finance 1-8 commission may adopt rules, consistent with Section 50, Article 1-9 XVI, Texas Constitution, to interpret Subsections (a)(6) and 1-10 (e)-(j) of that section. 1-11 (b) The consumer credit commissioner may propose rules and 1-12 submit other recommendations to the finance commission under this 1-13 section. In adopting rules under this section, the finance 1-14 commission shall consider the consumer credit commissioner's 1-15 proposals and recommendations. 1-16 SECTION 2. This Act takes effect on the date on which the 1-17 constitutional amendment proposed by __J.R. No. ____, 76th 1-18 Legislature, Regular Session, 1999, takes effect. If that 1-19 amendment is not approved by the voters, this Act has no effect. 1-20 SECTION 3. The importance of this legislation and the 1-21 crowded condition of the calendars in both houses create an 1-22 emergency and an imperative public necessity that the 1-23 constitutional rule requiring bills to be read on three several 1-24 days in each house be suspended, and this rule is hereby suspended, 2-1 and that this Act take effect and be in force according to its 2-2 terms, and it is so enacted.