By Shapleigh                                          S.B. No. 1392
         76R2183 DB-D                           
                                A BILL TO BE ENTITLED
 1-1                                   AN ACT
 1-2     relating to directing the Texas Department of Housing and Community
 1-3     Affairs to  study incentives for improving service for low-income
 1-4     home buyers.
 1-5           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
 1-6           SECTION 1.  (a)  The Texas Department of Housing and
 1-7     Community Affairs shall conduct a study to examine initiatives to
 1-8     improve services for single-family home buyers who participate in
 1-9     the mortgage revenue bond program established under Section
1-10     2306.151, Government Code.
1-11           (b)  The study must evaluate creation and probable
1-12     effectiveness of methods to improve the profit margin on homes
1-13     sold to low-income families, including:
1-14                 (1)  the creation of a fee-based or cost-plus payment
1-15     system for real estate brokers who sell homes to single-family home
1-16     buyers who participate in the mortgage revenue bond program;
1-17                 (2)  the use of nonprofit organizations and home buyer
1-18     assistance programs that participate in the home buyer education
1-19     program established under Section 2306.253, Government Code, to
1-20     relieve administrative costs involved in the purchase and finance
1-21     of homes by single-family home buyers; and
1-22                 (3)  other incentives that the Texas Department of
1-23     Housing and Community Affairs may investigate.
1-24           (c)  The Texas Department of Housing and Community Affairs
 2-1     shall deliver the results of the study to the Bond Review Board and
 2-2     the legislature not later than the first anniversary of the
 2-3     effective date of this Act.
 2-4           SECTION 2.  This Act expires on the day following the first
 2-5     anniversary of the effective date of this Act.
 2-6           SECTION 3.  The importance of this legislation and the
 2-7     crowded condition of the calendars in both houses create an
 2-8     emergency and an imperative public necessity that the
 2-9     constitutional rule requiring bills to be read on three several
2-10     days in each house be suspended, and this rule is hereby suspended,
2-11     and that this Act take effect and be in force from and after its
2-12     passage, and it is so enacted.