BILL ANALYSIS S.B. 989 By: Watson Urban Affairs Committee Report (Unamended) BACKGROUND AND PURPOSE Interested parties assert that the cap on the total amount of amortized, repayable loans made by the Texas Department of Housing and Community Affairs and other entities to an owner-builder under the owner-builder loan program has led to the exclusion of some individuals from participating in the program who reside in areas that have experienced rapid property value growth. S.B. 989 seeks to address this issue by removing the cap. CRIMINAL JUSTICE IMPACT It is the committee's opinion that this bill does not expressly create a criminal offense, increase the punishment for an existing criminal offense or category of offenses, or change the eligibility of a person for community supervision, parole, or mandatory supervision. RULEMAKING AUTHORITY It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution. ANALYSIS S.B. 989 amends the Government Code to remove the $90,000 cap on the total amount of amortized, repayable loans made by the Texas Department of Housing and Community Affairs (TDHCA) and other entities to an owner-builder under the owner-builder loan program. The bill requires the TDHCA to adopt rules necessary to implement the bill. EFFECTIVE DATE On passage, or, if the bill does not receive the necessary vote, September 1, 2017.
BILL ANALYSIS
# BILL ANALYSIS
S.B. 989
By: Watson
Urban Affairs
Committee Report (Unamended)
S.B. 989
By: Watson
Urban Affairs
Committee Report (Unamended)
BACKGROUND AND PURPOSE Interested parties assert that the cap on the total amount of amortized, repayable loans made by the Texas Department of Housing and Community Affairs and other entities to an owner-builder under the owner-builder loan program has led to the exclusion of some individuals from participating in the program who reside in areas that have experienced rapid property value growth. S.B. 989 seeks to address this issue by removing the cap.
CRIMINAL JUSTICE IMPACT It is the committee's opinion that this bill does not expressly create a criminal offense, increase the punishment for an existing criminal offense or category of offenses, or change the eligibility of a person for community supervision, parole, or mandatory supervision.
RULEMAKING AUTHORITY It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.
ANALYSIS S.B. 989 amends the Government Code to remove the $90,000 cap on the total amount of amortized, repayable loans made by the Texas Department of Housing and Community Affairs (TDHCA) and other entities to an owner-builder under the owner-builder loan program. The bill requires the TDHCA to adopt rules necessary to implement the bill.
EFFECTIVE DATE On passage, or, if the bill does not receive the necessary vote, September 1, 2017.
BACKGROUND AND PURPOSE
Interested parties assert that the cap on the total amount of amortized, repayable loans made by the Texas Department of Housing and Community Affairs and other entities to an owner-builder under the owner-builder loan program has led to the exclusion of some individuals from participating in the program who reside in areas that have experienced rapid property value growth. S.B. 989 seeks to address this issue by removing the cap.
CRIMINAL JUSTICE IMPACT
It is the committee's opinion that this bill does not expressly create a criminal offense, increase the punishment for an existing criminal offense or category of offenses, or change the eligibility of a person for community supervision, parole, or mandatory supervision.
RULEMAKING AUTHORITY
It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.
ANALYSIS
S.B. 989 amends the Government Code to remove the $90,000 cap on the total amount of amortized, repayable loans made by the Texas Department of Housing and Community Affairs (TDHCA) and other entities to an owner-builder under the owner-builder loan program. The bill requires the TDHCA to adopt rules necessary to implement the bill.
EFFECTIVE DATE
On passage, or, if the bill does not receive the necessary vote, September 1, 2017.