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A BILL TO BE ENTITLED
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AN ACT
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relating to the transfer of housing funds from the Texas Department |
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of Housing and Community Affairs to the Texas Veterans Commission. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 2306.202(a), Government Code, is amended |
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to read as follows: |
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Sec. 2306.202. USE OF HOUSING TRUST FUND. (a) The |
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department, through the housing finance division, shall use the |
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housing trust fund to provide loans, grants, or other comparable |
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forms of assistance to local units of government, public housing |
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authorities, nonprofit organizations, and income-eligible |
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individuals, families, and households to finance, acquire, |
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rehabilitate, and develop decent, safe, and sanitary housing. In |
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each biennium the first $2.6 million available through the housing |
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trust fund for loans, grants, or other comparable forms of |
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assistance shall be set aside and made available exclusively for |
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local units of government, public housing authorities, and |
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nonprofit organizations; the next $4 million in each biennium shall |
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transfer to the Texas Veterans Commission for the Veterans Housing |
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Assistance Program. Any additional funds may also be made
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available to for-profit organizations provided that at least 45 |
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percent of available funds, as determined on September 1 of each |
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state fiscal year, in excess of the first $2.6 million shall be made |
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available to nonprofit organizations for the purpose of acquiring, |
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rehabilitating, and developing decent, safe, and sanitary housing. |
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The remaining portion shall be distributed to nonprofit |
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organizations, for-profit organizations, and other eligible |
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entities. Notwithstanding any other section of this chapter, but |
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subject to the limitations in Section 2306.251(c), the department |
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may also use the fund to acquire property to endow the fund. |
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SECTION 2. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2011. |