By Duncan S.B. No. 1548 77R4685 SGA-D A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to the creation of a program to provide low-interest home 1-3 mortgage loans to certain teachers. 1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-5 SECTION 1. Chapter 2306, Government Code, is amended by 1-6 adding Subchapter GG to read as follows: 1-7 SUBCHAPTER GG. TEACHER HOME LOAN PROGRAM 1-8 Sec. 2306.801. DEFINITIONS. In this subchapter: 1-9 (1) "Critical shortage area" means a location 1-10 designated by the commissioners of education as experiencing a 1-11 critical shortage of teachers. 1-12 (2) "Critical shortage field" means an instructional 1-13 field designated by the commissioner of education as experiencing a 1-14 critical shortage of teachers. 1-15 (3) "Program" means the teacher home loan program 1-16 established under this subchapter. 1-17 Sec. 2306.802. TEACHER HOME LOAN PROGRAM. (a) The 1-18 department shall establish a program to provide eligible teachers 1-19 with low-interest home mortgage loans. 1-20 (b) To be eligible for a loan under this subchapter, a 1-21 teacher must have taught in a critical shortage area or field for 1-22 at least three years before the date of application for the loan. 1-23 If an eligible teacher dies after filing an application, a 1-24 surviving spouse may complete the transaction. 2-1 Sec. 2306.803. FUNDING. The department may solicit and 2-2 accept funding for the program from the following sources: 2-3 (1) gifts and grants for the purposes of this 2-4 subchapter; 2-5 (2) available money in the housing trust fund 2-6 established under Section 2306.201; 2-7 (3) federal block grants that may be used for the 2-8 purposes of this subchapter; 2-9 (4) other state or federal programs that provide money 2-10 that may be used for the purposes of this subchapter; and 2-11 (5) amounts received by the department in repayment of 2-12 loans made under this subchapter. 2-13 Sec. 2306.804. ADVISORY COMMITTEE; PROGRAM OPERATION. (a) 2-14 The department shall create an advisory committee to research: 2-15 (1) areas or fields with a critical need for the 2-16 program; 2-17 (2) any similar programs existing in political 2-18 subdivisions of this state or in any other state; and 2-19 (3) potential funding sources. 2-20 (b) Based on its research, the advisory committee shall 2-21 recommend rules and policies for the operation of the program. 2-22 (c) The advisory committee is not subject to Chapter 2110. 2-23 Sec. 2306.805. EXPIRATION. This subchapter expires September 2-24 1, 2010. 2-25 SECTION 2. The Texas Department of Housing and Community 2-26 Affairs shall: 2-27 (1) create the advisory committee required by 3-1 Subchapter GG, Chapter 2306, Government Code, as added by this Act, 3-2 not later than January 1, 2002; and 3-3 (2) implement the teacher home loan program required 3-4 by that subchapter not later than September 1, 2002. 3-5 SECTION 3. This Act takes effect immediately if it receives 3-6 a vote of two-thirds of all the members elected to each house, as 3-7 provided by Section 39, Article III, Texas Constitution. If this 3-8 Act does not receive the vote necessary for immediate effect, this 3-9 Act takes effect September 1, 2001.