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A BILL TO BE ENTITLED
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AN ACT
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relating to the operation of the owner-builder loan program. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 2306.753, Government Code, is amended by |
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adding Subsection (b-1) to read as follows: |
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(b-1) If an owner-builder is by reason of age or physical or |
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mental disease, defect, or injury unable to personally satisfy the |
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eligibility requirement described by Subsection (b)(4), the |
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department may allow another person to satisfy that eligibility |
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requirement on behalf of the owner-builder. |
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SECTION 2. Sections 2306.754(a) and (b), Government Code, |
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are amended to read as follows: |
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(a) The department may establish the minimum amount of a |
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loan under this subchapter, but a loan may not exceed $40,000 |
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[$30,000]. |
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(b) If it is not possible for an owner-builder to purchase |
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necessary real property and build adequate housing for $40,000 |
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[$30,000], the owner-builder must obtain the amount necessary that |
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exceeds $40,000 [$30,000] from one or more local governmental |
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entities, nonprofit organizations, or private lenders. The total |
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amount of loans made by the department and other entities to an |
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owner-builder under this subchapter may not exceed $80,000 |
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[$60,000]. |
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SECTION 3. Section 2306.7581(a-1), Government Code, is |
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amended to read as follows: |
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(a-1) Each state fiscal year the department shall transfer |
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at least $3 million to the owner-builder revolving fund from money |
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received under the federal HOME Investment Partnerships program |
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established under Title II of the Cranston-Gonzalez National |
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Affordable Housing Act (42 U.S.C. Section 12701 et seq.), from |
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money in the housing trust fund, or from money appropriated by the |
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legislature to the department. [This subsection expires August 31,
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2010.] |
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SECTION 4. Section 2306.753(b-1), Government Code, as added |
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by this Act, and Sections 2306.754(a) and (b), Government Code, as |
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amended by this Act, apply only to owner-builder loans granted by |
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the department on or after the effective date of this Act. An |
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owner-builder loan granted before the effective date of this Act is |
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governed by the law in effect at the time the loan was granted, and |
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the former law is continued in effect for that purpose. |
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SECTION 5. This Act takes effect September 1, 2007. |