| TO: | Honorable David Dewhurst, Lieutenant Governor, Senate |
| FROM: | John Keel, Director, Legislative Budget Board |
| IN RE: | SB284 by Lucio (Relating to the continuation and functions of the Texas State Affordable Housing Corporation. ), As Passed 2nd House |
The provisions of the bill continue the Texas State Affordable Housing Corporation (corporation) until September 1, 2009. It also requires improved coordination, including project compliance information between the corporation and the Department of Housing and Community Affairs (TDHCA). The bill would also rename the Teachers Home Loan Program the Professional Educators Home Loan Program administered by the corporation. The corporation is a self-sustaining non-profit entity that does not receive funding from the State and is not subject to the legislative appropriations process. It also reduces the portion of state ceiling available exclusively to TDHCA for the issuance of multifamily mortgage revenue bonds from one-fourth of the ceiling to one-fifth of the ceiling.
TDHCA anticipates a loss in Appropriated Receipts revenue from the reduction in pre-applications, final applications and origination fees. It is assumed that there would be a similar reduction in costs from the reduction of workload. Based on the analysis of TDHCA, duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.
| Source Agencies: | 332 Department of Housing and Community Affairs, 116 Sunset Advisory Commission
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| LBB Staff: | JK, DLBa, GO, RT, DE
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