Honorable Carol Alvarado, Chair, House Committee on Urban Affairs
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB1512 by Isaac (Relating to the maximum loan amount made to persons under the owner-builder loan program.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Government Code relating to the maximum loan amount made to persons under the owner-builder loan program. Under the provisions of the bill, the total amount of amortized, repayable loans made by the Texas Department of Housing and Community Affairs and other entities to certain owner-builders could not exceed $150,000.
The Texas Department of Housing and Community Affairs indicates that any costs associated with the bill could be absorbed within the agency's existing resources.
The bill would take effect immediately if it receives a vote of two-thirds of all the members elected to each house. If the bill does not receive the vote necessary for immediate effect; it would take effect September 1, 2017.
Local Government Impact
No fiscal implication to units of local government is anticipated.