Texas 2013 - 83rd Regular

Texas House Bill HB2954 Compare Versions

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Old	New	Differences
1	1	83R21406 JAM-D
2	2	By: Guillen H.B. No. 2954
3	3	Substitute the following for H.B. No. 2954:
4	4	By: Rodriguez of Bexar C.S.H.B. No. 2954
5	5
6	6
7	7	A BILL TO BE ENTITLED
8	8	AN ACT
9	9	relating to the establishment of a down payment assistance program
10	10	by the manufactured housing division of the Texas Department of
11	11	Housing and Community Affairs for the purchase of manufactured
12	12	homes by low-income individuals and families.
13	13	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
14	14	SECTION 1. Subchapter B, Chapter 1201, Occupations Code, is
15	15	amended by adding Section 1201.063 to read as follows:
16	16	Sec. 1201.063. DOWN PAYMENT ASSISTANCE PROGRAM. (a) The
17	17	department shall establish a program providing down payment
18	18	assistance to eligible persons for the purchase of manufactured
19	19	homes:
20	20	(1) from a retailer licensed under this chapter; or
21	21	(2) that have been converted to and are being sold as
22	22	real property.
23	23	(b) To be eligible for financial assistance under this
24	24	section, a person must:
25	25	(1) be an individual or family earning not more than 80
26	26	percent of the area median income or applicable federal poverty
27	27	line as determined under Section 2306.123 or 2306.1231, Government
28	28	Code; and
29	29	(2) except as provided by board rule, continuously
30	30	occupy the purchased manufactured home as the person's primary
31	31	residence for at least the two-year period following the date of
32	32	purchase of the home.
33	33	(c) For each manufactured home purchased with financial
34	34	assistance under this section, the assistance may not exceed the
35	35	lesser of:
36	36	(1) $2,000;
37	37	(2) 50 percent of any down payment required by the
38	38	primary lender; or
39	39	(3) five percent of the total purchase price of the
40	40	manufactured home and the real property on which a manufactured
41	41	home has been installed, if a real property election has been
42	42	perfected under Section 1201.222(a).
43	43	(d) Financial assistance provided under this section must
44	44	be provided in connection with a primary loan that:
45	45	(1) is from a lender licensed to make consumer loans in
46	46	this state or a federally insured depository institution if the
47	47	loan does not involve the use of real property as security; or
48	48	(2) complies with the applicable requirements of state
49	49	and federal law if the loan involves the use of real property as
50	50	security.
51	51	(e) The board shall adopt rules governing:
52	52	(1) the administration of the program;
53	53	(2) the issuance of financial assistance under the
54	54	program;
55	55	(3) creditworthiness, purchase price, and other
56	56	eligibility standards;
57	57	(4) exceptions to the residency requirement under
58	58	Subsection (b)(2), including death, loss of employment, or other
59	59	exigent circumstances;
60	60	(5) contractual enforcement of the residency
61	61	requirement under Subsection (b)(2); and
62	62	(6) the structure of the financial assistance provided
63	63	under this section, which may include secured or unsecured deferred
64	64	forgivable loans.
65	65	(f) The department may fund the program with:
66	66	(1) money appropriated to the department for that
67	67	purpose; and
68	68	(2) money from the housing trust fund established
69	69	under Section 2306.201, Government Code, that is made available to
70	70	the department for that purpose.
71	71	(g) The department may reserve for payment of
72	72	administrative expenses not more than five percent of money
73	73	received for the program under this section.
74	74	SECTION 2. The Texas Department of Housing and Community
75	75	Affairs shall adopt the rules required by Section 1201.063(e),
76	76	Occupations Code, as added by this Act, not later than December 1,
77	77	2013.
78	78	SECTION 3. This Act takes effect September 1, 2013.