Amend HB 4275 (Senate committee printing) by adding the 
following appropriately numbered SECTIONS to the bill and 
renumbering subsequent SECTIONS of the bill accordingly:
	SECTION ____.  Chapter 2306, Government Code, is amended by 
adding Subchapter OO to read as follows:

SUBCHAPTER OO.  TEXAS SAVVY HOMEOWNER PROGRAM
	Sec. 2306.2001.  DEFINITION.  In this subchapter, "program" 
means the Texas savvy homeowner program.
	Sec. 2306.2002.  ESTABLISHMENT OF PROGRAM.  (a)  The 
department shall, in coordination with the Texas State Affordable 
Housing Corporation, the Department of Savings and Mortgage 
Lending, the Office of Consumer Credit Commissioner, and local 
housing finance corporations, establish the Texas savvy homeowner 
program to make refinancing education and assistance available to 
all individuals residing in a home for which they have received 
mortgage loan, mortgage credit certificate, down payment, or other 
loan assistance from the department, the Texas State Affordable 
Housing Corporation, or a housing finance corporation, including 
assistance through mortgage revenue bonds or through the 
department's allocation of funds provided to the state under the 
Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 
Section 12701 et seq.).
	(b)  Except as provided by Subsection (c), participation in 
the program is voluntary.
	(c)  Participation in the program is mandatory for 
individuals receiving mortgage loan, mortgage credit certificate, 
down payment, or other loan assistance from the department, the 
Texas State Affordable Housing Corporation, or a housing finance 
corporation on or after December 1, 2009.  Any assistance described 
by this subsection that is issued on or after that date shall be 
provided to the individual with information concerning:
		(1)  the requirements and procedures of the program; 
and             
		(2)  the contact information of the program 
administrator.           
	Sec. 2306.2003.  PROGRAM DEVELOPMENT AND ADMINISTRATION.  
(a)   The department shall, in coordination with the Texas State 
Affordable Housing Corporation, the Department of Savings and 
Mortgage Lending, the Office of Consumer Credit Commissioner, and 
housing finance corporations, develop:
		(1)  best practices for home refinancing; and                          
		(2)  a curriculum for the provision of individualized 
counseling to program participants that includes information 
concerning:
			(A)  mortgage refinancing options;                                    
			(B)  home equity practices;                                           
			(C)  predatory lending practices; and                                 
			(D)  a comparison of any refinancing terms being 
offered to the individual and refinancing terms otherwise available 
to the individual.
	(b)  The department shall:                                              
		(1)  administer the program directly; or                               
		(2)  prepare and issue a request for proposal and enter 
into a contract providing for the administration of the program by a 
nonprofit corporation that:
			(A)  is a housing counselor certified by the 
United States Department of Housing and Urban Development or the 
department; and
			(B)  complies with any requirements imposed on the 
program administrator in relation to the best practices and 
curriculum developed by the department under Subsection (a).
	(c)  If the department does not administer the program, the 
program administrator shall submit quarterly reports to the 
department detailing the counseling services provided and whether 
the counseling recipients obtained refinancing.
	Sec. 2306.2004.  MODIFICATION OF LOAN TERMS.  (a)  As a 
condition of receiving mortgage loan, mortgage credit certificate, 
down payment, or other loan assistance from the department, the 
Texas State Affordable Housing Corporation, or a local housing 
finance corporation, a program participant must agree to notify the 
program administrator in writing of any intent to modify the terms 
of any loan secured by the home in which the participant resides.  
The notice must be provided not later than the 60th day before the 
date the loan terms are modified.
	(b)  On receipt of notice under Subsection (a), the program 
administrator shall:
		(1)  contact the loan recipient not later than the 30th 
day after the date of receipt of the notice; and
		(2)  on the phone or in person, provide the loan 
recipient with an individualized counseling session based on the 
curriculum developed by the department under Section 2306.2003(a).
	Sec. 2306.2005.  RULES.  The department may adopt rules 
necessary to implement this subchapter.
	SECTION ____.  The Texas Department of Housing and Community 
Affairs shall adopt any rules required by Subchapter OO, Chapter 
2306, Government Code, as added by this Act, not later than December 
1, 2009.