| |
|
| |
|
|
By: Isaac (Senate Sponsor - Watson) |
H.B. No. 1512 |
|
|
(In the Senate - Received from the House April 24, 2017; |
|
|
May 3, 2017, read first time and referred to Committee on |
|
|
Intergovernmental Relations; May 15, 2017, reported adversely, |
|
|
with favorable Committee Substitute by the following vote: Yeas 6, |
|
|
Nays 0; May 15, 2017, sent to printer.) |
| Click here to see the committee vote |
| |
|
|
COMMITTEE SUBSTITUTE FOR H.B. No. 1512 |
By: Garcia |
| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
| |
|
|
relating to the administration of the owner-builder loan program. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Section 2306.754(b), Government Code, is amended |
|
|
to read as follows: |
|
|
(b) If it is not possible for an owner-builder to purchase |
|
|
necessary real property and build or rehabilitate adequate housing |
|
|
for $45,000, the owner-builder must obtain the amount necessary |
|
|
that exceeds $45,000 from other sources of funds. [The total amount
|
|
|
of amortized, repayable loans made by the department and other
|
|
|
entities to an owner-builder under this subchapter may not exceed
|
|
|
$90,000.] |
|
|
SECTION 2. Section 2306.7581(b), Government Code, is |
|
|
amended to read as follows: |
|
|
(b) Notwithstanding any other law, all money received by the |
|
|
department in accordance with this subchapter, including any amount |
|
|
received by the department for payment of the principal of or |
|
|
interest on a loan made under this subchapter, is part of the |
|
|
owner-builder revolving loan fund. All money constituting part of |
|
|
the owner-builder revolving loan fund shall be deposited in the |
|
|
housing trust fund established under Section 2306.201 [The
|
|
|
department shall deposit money received in repayment of a loan
|
|
|
under this subchapter to the owner-builder revolving loan fund]. |
|
|
SECTION 3. As soon as practicable after the effective date |
|
|
of this Act, the Texas Department of Housing and Community Affairs |
|
|
shall adopt rules necessary to implement Section 2306.754(b), |
|
|
Government Code, as amended by this Act. |
|
|
SECTION 4. This Act takes effect immediately if it receives |
|
|
a vote of two-thirds of all the members elected to each house, as |
|
|
provided by Section 39, Article III, Texas Constitution. If this |
|
|
Act does not receive the vote necessary for immediate effect, this |
|
|
Act takes effect September 1, 2017. |
|
|
|
|
|
* * * * * |