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AN ACT
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relating to the administration 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 2306.754(b), Government Code, is amended |
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to read as follows: |
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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 or rehabilitate adequate housing |
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for $45,000, the owner-builder must obtain the amount necessary |
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that exceeds $45,000 from other sources of funds. [The total amount
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of amortized, repayable loans made by the department and other
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entities to an owner-builder under this subchapter may not exceed
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$90,000.] |
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SECTION 2. Section 2306.758, Government Code, is amended by |
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amending Subsection (b) and adding Subsection (d) to read as |
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follows: |
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(b) The department may also make loans under this subchapter |
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from: |
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(1) available funds in the housing trust fund |
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established under Section 2306.201; and |
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(2) federal block grants that may be used for the |
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purposes of this subchapter[; and
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[(3)
the owner-builder revolving loan fund
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established under Section 2306.7581]. |
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(d) All money received by the department as part of the |
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owner-builder loan program under this subchapter, including any |
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amount received by the department for payment of the principal of or |
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interest on a loan made under this subchapter, shall be deposited in |
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the housing trust fund established under Section 2306.201 to be |
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used to carry out the purposes of this subchapter. If the money to |
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be received by the department for a state fiscal year for payment of |
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the principal of or interest on a loan made under this subchapter is |
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less than $3 million for a state fiscal year, the department shall |
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use any available source of money in the housing trust fund to |
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ensure that not less than $3 million is used for the owner-builder |
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loan program each state fiscal year. |
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SECTION 3. Section 2306.7581, Government Code, is repealed. |
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SECTION 4. As soon as practicable after the effective date |
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of this Act, the Texas Department of Housing and Community Affairs |
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shall adopt rules necessary to implement Section 2306.754(b), |
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Government Code, as amended by this Act. |
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SECTION 5. 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, 2017. |
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______________________________ |
______________________________ |
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President of the Senate |
Speaker of the House |
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I certify that H.B. No. 1512 was passed by the House on April |
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20, 2017, by the following vote: Yeas 143, Nays 1, 2 present, not |
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voting; and that the House concurred in Senate amendments to H.B. |
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No. 1512 on May 21, 2017, by the following vote: Yeas 132, Nays 6, |
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2 present, not voting. |
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______________________________ |
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Chief Clerk of the House |
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I certify that H.B. No. 1512 was passed by the Senate, with |
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amendments, on May 18, 2017, by the following vote: Yeas 24, Nays |
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6. |
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______________________________ |
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Secretary of the Senate |
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APPROVED: __________________ |
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Date |
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__________________ |
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Governor |