| TO: | Honorable Joe Deshotel, Chair, House Committee on Economic Development |
| FROM: | John S. O'Brien, Director, Legislative Budget Board |
| IN RE: | HB584 by Deshotel (Relating to the owner-builder loan program.), As Introduced |
The bill would amend the Government Code relating to the Department of Housing and Community Affairs (TDHCA) Owner-Builder Loan Program. The bill would delete the requirement that the owner-builder must complete at least 60 percent of the labor necessary to build the proposed house. The bill would require that the maximum amount of a loan from TDHCA be changed from $30,000 to an amount based on the area loan limit for the county and require that the total amount of the property borrowed from all parties be changed from $60,000 to an amount based on the area loan limit for the county. The bill would eliminate the requirement that two-thirds of the awarded amounts for this program shall be in counties in whole or in part, within 100 miles of an international border and contain the majority of the area of a municipality with a population of more than 250,000.
Based on information provided by TDHCA, it is assumed that costs related to the duties and responsibilities associated with implementing the provisions of the bill could be covered by utilizing existing resources.
This bill would take effect September 1, 2007.
| Source Agencies: | 332 Department of Housing and Community Affairs
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| LBB Staff: | JOB, JRO, MW, AH
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