78R2455 DWS-F

By:  Hochberg                                                   H.J.R. No. 23 



A JOINT RESOLUTION

proposing a constitutional amendment permitting refinancing of a 
home equity loan with a reverse mortgage.
	BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:                       
	SECTION 1.  Section 50(f), Article XVI, Texas Constitution, 
is amended to read as follows:
	(f)  A refinance of debt secured by the homestead, any 
portion of which is an extension of credit described by Subsection 
(a)(6) of this section, may not be secured by a valid lien against 
the homestead unless the refinance of the debt is an extension of 
credit described by Subsection (a)(6) or (a)(7) of this section.
	SECTION 2.  This proposed constitutional amendment shall be 
submitted to the voters at an election to be held November 4, 2003.  
The ballot shall be printed to permit voting for or against the 
proposition:  "The constitutional amendment permitting refinancing 
of a home equity loan with a reverse mortgage."