Bill Text: TX HB2528 | 2017-2018 | 85th Legislature | Introduced

Texas House Bill 2528 (Prior Session Legislation)

NOTE: There are more recent revisions of this legislation. Read Latest Draft

Bill Title: Relating to predevelopment loans provided to community housing development organizations by the Texas Department of Housing and Community Affairs.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2017-05-09 - Placed on General State Calendar [HB2528 Detail]

Download: Texas-2017-HB2528-Introduced.html



	By: Guillen	H.B. No. 2528



	A BILL TO BE ENTITLED
	AN ACT
	relating to predevelopment loans provided to community housing
	development organizations by the Texas Department of Housing and
	Community Affairs.

	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
	SECTION 1. Subchapter J, Chapter 2306, Government Code, is
	amended by adding Section 2306.233 to read as follows:
	Sec. 2306.233. PREDEVELOPMENT LOANS. (a) The department
	may issue to a community housing development organization certified
	by the department a project-specific predevelopment loan to
	facilitate the development of a project that, if considered
	feasible, will receive an award of financial assistance under the
	terms of the federal HOME Investment Partnerships Program
	established under Title II of the Cranston-Gonzalez National
	Affordable Housing Act (42 U.S.C. Section 12701 et seq.).
	(b) A predevelopment loan issued under this section may not
	be used to pay:
	(1) project costs that exceed customary and reasonable
	project preparation costs; or
	(2) administrative expenses of a community housing
	development organization.
	SECTION 2. This Act takes effect September 1, 2017.