SRC-BWC S.B. 1699 77(R)   BILL ANALYSIS


Senate Research Center   S.B. 1699
By: Truan
Veteran Affairs & Military Installations
3/27/2001
As Filed


DIGEST AND PURPOSE 

Revenue bonds are issued by the Veterans' Land Board of the General Land
Office to provide additional funding for home mortgage loans for Texas
veterans.  Currently, the Veterans' Land Board may not issue more than $250
million in revenue per year.  As proposed, S.B. 1699 removes the statutory
limitation on the amount of revenue bonds to meet expected demand of home
mortgage loans. 

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.  Amends Section 164.007, Natural Resources Code, by deleting
text providing that bonds issued for a purpose other than buying back or
refunding general obligation bonds may not in the aggregate exceed $250
million. 

SECTION 2.  Effective date:  upon passage.