SRC-CTC H.B. 2453 77(R)   BILL ANALYSIS


Senate Research Center   H.B. 2453
77R8977 DLF-FBy: Berman (Shapleigh)
Veteran Affairs & Military Installations
5/11/2001
Engrossed


DIGEST AND PURPOSE 

Under current law, the aggregate amount of revenue bonds issued by the
Veterans' Land Board (board) may not exceed $250 million.  In connection
with the board's housing program, revenue bonds are typically issued to
supplement the amounts available to the board through its general
obligation bonding authority. Over the next four years, the board may need
to issue additional bonds which would exceed the current cap to provide the
funding necessary to meet the expected demand for home mortgage loans by
Texas veterans.  H.B. 2453 removes the statutory limitation on the amount
of revenue bonds the board is authorized to issue.  

RULEMAKING AUTHORITY

This bill does not expressly grant any additional rulemaking authority to a
state officer, institution, or agency. 

SECTION BY SECTION ANALYSIS

SECTION 1.  Repealer: Section 164.007(f), Natural Resources Code.

SECTION 2.  Effective date: upon passage or September 1, 2001.