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A JOINT RESOLUTION
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proposing a constitutional amendment creating the workforce |
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housing fund to facilitate the development of affordable workforce |
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housing and transferring to that fund $2 billion from state general |
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revenue. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Article III, Texas Constitution, is amended by |
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adding Section 68 to read as follows: |
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Sec. 68. (a) The workforce housing fund is created as a |
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special fund in the state treasury. Money in the fund may be used |
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only to provide low-interest loans to developers for the purposes |
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of facilitating the development of affordable workforce housing. |
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The fund shall be administered by the Texas Department of Housing |
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and Community Affairs or that department's successor in function. |
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(b) The fund consists of money transferred to the fund under |
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this section. |
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(c) The repayment of principal and interest from loans made |
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from the fund shall be deposited to the credit of the general |
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revenue fund. |
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(c-1) On January 1, 2026, the comptroller shall transfer $2 |
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billion from this state's general revenue fund to the workforce |
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housing fund. The transfer made under this subsection is not an |
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appropriation of state tax revenues for the purposes of Section 22, |
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Article VIII, of this constitution. This subsection expires |
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January 1, 2029. |
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(d) The reasonable expenses of managing the assets of the |
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workforce housing fund shall be paid from the fund. |
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(e) The legislature by general law shall provide for the |
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manner in which the assets of the workforce housing fund may be |
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used, subject to the limitations provided by this section. |
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SECTION 2. This proposed constitutional amendment shall be |
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submitted to the voters at an election to be held November 4, 2025. |
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The ballot shall be printed to provide for voting for or against the |
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proposition: "The constitutional amendment creating the workforce |
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housing fund to facilitate the development of affordable workforce |
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housing and transferring to that fund $2 billion from state general |
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revenue." |