1-1     By:  Gallego, et al. (Senate Sponsor - Lucio)         H.B. No. 3451
 1-2           (In the Senate - Received from the House April 27, 2001;
 1-3     April 30, 2001, read first time and referred to Committee on
 1-4     Intergovernmental Relations; May 10, 2001, reported favorably by
 1-5     the following vote:  Yeas 5, Nays 0; May 10, 2001, sent to
 1-6     printer.)
 1-7                            A BILL TO BE ENTITLED
 1-8                                   AN ACT
 1-9     relating to the continuation and functions of the Texas State
1-10     Affordable Housing Corporation.
1-11           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-12           SECTION 1. Section 2306.5521, Government Code, is amended to
1-13     read as follows:
1-14           Sec. 2306.5521.  SUNSET PROVISION. The Texas State Affordable
1-15     Housing Corporation is subject to Chapter 325 (Texas Sunset Act).
1-16     Unless continued in existence as provided by that chapter, the
1-17     corporation is abolished and this subchapter expires September 1,
1-18     2003 [2001].
1-19           SECTION 2.  Subchapter Y, Chapter 2306, Government Code, is
1-20     amended by adding Sections 2306.5551 and 2306.5552 to read as
1-21     follows:
1-22           Sec. 2306.5551.  BOARD DELEGATION OF AUTHORITY TO ISSUE BONDS
1-23     OR OTHER OBLIGATIONS. (a)  The board of directors of the
1-24     corporation may delegate to a member of the board or to an employee
1-25     of the corporation the authority to enter into a contract to issue
1-26     bonds or other obligations for the corporation.
1-27           (b)  The person to whom contract authority is delegated under
1-28     this section shall report to the board as frequently as considered
1-29     necessary by the board all of the person's activities relating to
1-30     the issuance of bonds or other obligations.
1-31           Sec. 2306.5552.  TECHNICAL AND FINANCIAL ASSISTANCE PROVIDED
1-32     TO NONPROFIT ORGANIZATIONS. The corporation shall supplement the
1-33     technical and financial capacity of other appropriate nonprofit
1-34     organizations to provide for the multifamily and single-family
1-35     housing needs of individuals and families of low, very low, and
1-36     extremely low income.
1-37           SECTION 3.  This Act takes effect immediately if it receives
1-38     a vote of two-thirds of all the members elected to each house, as
1-39     provided by Section 39, Article III, Texas Constitution.  If this
1-40     Act does not receive the vote necessary for immediate effect, this
1-41     Act takes effect September 1, 2001.
1-42                                  * * * * *