By Gallego, Carter, Martinez Fischer,                 H.B. No. 3451
                                A BILL TO BE ENTITLED
 1-1                                   AN ACT
 1-2     relating to the continuation and functions of the Texas State
 1-3     Affordable Housing Corporation.
 1-4           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
 1-5           SECTION 1. Section 2306.5521, Government Code, is amended to
 1-6     read as follows:
 1-7           Sec. 2306.5521.  SUNSET PROVISION. The Texas State Affordable
 1-8     Housing Corporation is subject to Chapter 325 (Texas Sunset Act).
 1-9     Unless continued in existence as provided by that chapter, the
1-10     corporation is abolished and this subchapter expires September 1,
1-11     2003 [2001].
1-12           SECTION 2.  Subchapter Y, Chapter 2306, Government Code, is
1-13     amended by adding Sections 2306.5551 and 2306.5552 to read as
1-14     follows:
1-15           Sec. 2306.5551.  BOARD DELEGATION OF AUTHORITY TO ISSUE BONDS
1-16     OR OTHER OBLIGATIONS. (a)  The board of directors of the
1-17     corporation may delegate to a member of the board or to an employee
1-18     of the corporation the authority to enter into a contract to issue
1-19     bonds or other obligations for the corporation.
1-20           (b)  The person to whom contract authority is delegated under
1-21     this section shall report to the board as frequently as considered
1-22     necessary by the board all of the person's activities relating to
1-23     the issuance of bonds or other obligations.
1-24           Sec. 2306.5552.  TECHNICAL AND FINANCIAL ASSISTANCE PROVIDED
1-25     TO NONPROFIT ORGANIZATIONS. The corporation shall supplement the
 2-1     technical and financial capacity of other appropriate nonprofit
 2-2     organizations to provide for the multifamily and single-family
 2-3     housing needs of individuals and families of low, very low, and
 2-4     extremely low income.
 2-5           SECTION 3.  This Act takes effect immediately if it receives
 2-6     a vote of two-thirds of all the members elected to each house, as
 2-7     provided by Section 39, Article III, Texas Constitution.  If this
 2-8     Act does not receive the vote necessary for immediate effect, this
 2-9     Act takes effect September 1, 2001.