79S20054 AMY-F



By:  Corte                                                      H.C.R. No. 15 







CONCURRENT RESOLUTION

	WHEREAS, Texas has long been a leader in recognizing and 

rewarding the tremendous sacrifice of its veterans; and

	WHEREAS, Home ownership in Texas is viewed by many as a 

cherished component of the American Dream; and

	WHEREAS, Enabling Texas veterans to achieve home ownership at 

a lower cost is but a small reward for their faithful service while 

in the U.S. Armed Forces; and

	WHEREAS, In appreciation of this service on behalf of our 

country, the states of Texas, California, Oregon, Alaska, and 

Wisconsin have offered below-market interest rates on home loan 

mortgages for decades; and

	WHEREAS, This program has assisted more than a million 

veterans in obtaining affordable housing and in making a better 

life for themselves and their dependents; and

	WHEREAS, Tax exempt bonds known as Qualified Veterans 

Mortgage Bonds fund the majority of the home purchase and home 

improvement loans made to veterans; and

	WHEREAS, Current federal law governing the use of tax-exempt 

bonds used to fund these loans, as contained in Section 143(I)(4) of 

the Internal Revenue Code, unfairly limits these programs to only 

those veterans who served prior to January 1, 1977; and

	WHEREAS, This restriction unfairly prevents all veterans 

serving on active duty after 1976 from using Qualified Veterans 

Mortgage Bonds, including more than 500,000 men and women who 

served in Desert Shield and Desert Storm and the 180,000 reservists 

and National Guard members called up to serve our country since 

September 11, 2001; and

	WHEREAS, These courageous men and women are entitled to the 

same benefits offered to their earlier comrades in arms, yet they 

and their families are being denied the opportunity to use 

Qualified Veterans Mortgage Bonds; and

	WHEREAS, Despite the fact that removing the restriction would 

not increase federal discretionary spending, Congress has not yet 

remedied this discriminatory federal provision on behalf of these 

deserving men and women; now, therefore, be it

	RESOLVED, That the 79th Legislature of the State of Texas, 

2nd Called Session, hereby respectfully urge the 109th Congress to 

support the American Veterans Home Ownership Act of 2005, to 

immediately remove the aforementioned discriminatory portion of 

the Internal Revenue Code in order that today's veterans and their 

families might enjoy the same benefits as their earlier 

counterparts; and, be it further

	RESOLVED, That the Texas secretary of state forward official 

copies of this resolution to the president of the United States, the 

speaker of the house of representatives, and the president of the 

senate of the United States Congress, and to all the members of the 

Texas delegation to Congress with the request that this resolution 

be officially entered in the Congressional Record as a memorial to 

the Congress of the United States of America.