Texas House Bill HJR99

Texas 2017 - 85th Regular

Caption

Proposing a constitutional amendment establishing a lower amount for expenses that can be charged to a borrower and removing certain financing expense limitations for a home equity loan, establishing certain authorized lenders to make a home equity loan, changing certain options for the refinancing of home equity loans, changing the threshold for an advance of a home equity line of credit, and allowing home equity loans on agricultural homesteads.

Impact

If passed, HJR99 would impact various statutory provisions related to taxation and governmental budgeting. The resolution seeks to clarify the distribution of tax revenues, which critics argue risks shifting the burden of funding essential services away from the state level and onto localities that may struggle to support themselves. This shift could lead to increased disparities in service provision among different regions, affecting education, infrastructure, and public safety in various areas of the state. There is concern that without adequate state support, local governments might face significant financial challenges.

Summary

HJR99 is a joint resolution proposing an amendment to the state constitution regarding taxation and local government funding mechanisms. The bill aims to redefine how tax revenues are allocated between state and local governments, potentially adjusting the financial landscapes of municipalities across the state. Proponents believe that such changes will empower local governments with the necessary resources to address community needs more effectively. The proposed amendment may alter existing laws surrounding taxation and budgetary allocations, which could have long-lasting implications for local fiscal authority and state oversight.

Sentiment

The sentiment surrounding HJR99 appears to be mixed among legislators and constituents. Supporters of the resolution feel optimistic about the potential for improved local funding and greater autonomy for local governments. They argue that HJR99 reflects a necessary evolution in the relationship between state and local authorities. However, opposing voices raise alarms about the possible negative consequences of such changes, citing fears of diminished state responsibilities and potential harm to vulnerable populations that rely on consistent state funding for essential services.

Contention

The notable points of contention primarily revolve around the resolution's implications for local authority versus state oversight. Critics are particularly wary of how HJR99 might inadvertently erode the revenue bases that local governments depend on. The discussions highlight a philosophical divide regarding the appropriate balance of power between different levels of government—whether local entities should be entrusted with more financial resources and decision-making power, or whether such authority should remain closely regulated at the state level to ensure equitable service delivery across the board.