Bill Text: TX HB1512 | 2017-2018 | 85th Legislature | Enrolled
Bill Title: Relating to the administration of the owner-builder loan program.
Spectrum: Bipartisan Bill
Status: (Passed) 2017-06-15 - Effective immediately [HB1512 Detail]
Download: Texas-2017-HB1512-Enrolled.html
H.B. No. 1512 |
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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. [ |
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SECTION 2. Section 2306.758, Government Code, is amended by | ||
amending Subsection (b) and adding Subsection (d) to read as | ||
follows: | ||
(b) The department may also make loans under this subchapter | ||
from: | ||
(1) available funds in the housing trust fund | ||
established under Section 2306.201; and | ||
(2) federal block grants that may be used for the | ||
purposes of this subchapter[ |
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(d) All money received by the department as part of the | ||
owner-builder loan program under this subchapter, including any | ||
amount received by the department for payment of the principal of or | ||
interest on a loan made under this subchapter, shall be deposited in | ||
the housing trust fund established under Section 2306.201 to be | ||
used to carry out the purposes of this subchapter. If the money to | ||
be received by the department for a state fiscal year for payment of | ||
the principal of or interest on a loan made under this subchapter is | ||
less than $3 million for a state fiscal year, the department shall | ||
use any available source of money in the housing trust fund to | ||
ensure that not less than $3 million is used for the owner-builder | ||
loan program each state fiscal year. | ||
SECTION 3. Section 2306.7581, Government Code, is repealed. | ||
SECTION 4. 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 5. 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. | ||
______________________________ | ______________________________ | |
President of the Senate | Speaker of the House | |
I certify that H.B. No. 1512 was passed by the House on April | ||
20, 2017, by the following vote: Yeas 143, Nays 1, 2 present, not | ||
voting; and that the House concurred in Senate amendments to H.B. | ||
No. 1512 on May 21, 2017, by the following vote: Yeas 132, Nays 6, | ||
2 present, not voting. | ||
______________________________ | ||
Chief Clerk of the House | ||
I certify that H.B. No. 1512 was passed by the Senate, with | ||
amendments, on May 18, 2017, by the following vote: Yeas 24, Nays | ||
6. | ||
______________________________ | ||
Secretary of the Senate | ||
APPROVED: __________________ | ||
Date | ||
__________________ | ||
Governor |