Bill Text: TX SB992 | 2011-2012 | 82nd Legislature | Enrolled


Bill Title: Relating to the allocation of loans made under the owner-builder loan program.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Passed) 2011-06-17 - Effective on 9/1/11 [SB992 Detail]

Download: Texas-2011-SB992-Enrolled.html
 
 
  S.B. No. 992
 
 
 
 
AN ACT
  relating to the allocation of loans made under the owner-builder
  loan program.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Subsection (d), Section 2306.753, Government
  Code, is amended to read as follows:
         (d)  At least two-thirds of the dollar amount of loans made
  under this subchapter in each fiscal year must be made to borrowers
  whose property is in a census tract that has a median household
  income that is not greater than 75 percent of the median state
  household income for the most recent year for which statistics are
  available [located in a county that is eligible to receive
  financial assistance under Subchapter K, Chapter 17, Water Code].
         SECTION 2.  The change in law made by this Act in amending
  Section 2306.753, Government Code, applies only to owner-builder
  loans granted by the Texas Department of Housing and Community
  Affairs on or after the effective date of this Act. An
  owner-builder loan granted before the effective date of this Act is
  governed by the law in effect at the time the loan was granted, and
  the former law is continued in effect for that purpose.
         SECTION 3.  This Act takes effect September 1, 2011.
 
 
 
 
 
  ______________________________ ______________________________
     President of the Senate Speaker of the House     
 
         I hereby certify that S.B. No. 992 passed the Senate on
  April 7, 2011, by the following vote:  Yeas 31, Nays 0.
 
 
  ______________________________
  Secretary of the Senate    
 
         I hereby certify that S.B. No. 992 passed the House on
  May 20, 2011, by the following vote:  Yeas 145, Nays 4, one
  present not voting.
 
 
  ______________________________
  Chief Clerk of the House   
 
 
 
  Approved:
 
  ______________________________ 
              Date
 
 
  ______________________________ 
            Governor
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