BILL ANALYSIS H.B. 1472 By: Walle Urban Affairs Committee Report (Unamended) BACKGROUND AND PURPOSE Demand for affordable housing in Texas is at an all-time high, yet the cost of construction continues to increase and, in turn, prices the workforce out of the housing market. The Texas Bootstrap Loan Program, an owner-builder loan program operated by the Texas Department of Housing and Community Affairs, offers a solution to home affordability. However, participation in the program remains financially difficult even for eligible owner-builders at the high end of the program's cap of 60 percent of the greater of a state or local median family income. H.B. 1472 seeks to make more owner-builders eligible for the loan program by raising the cap for the applicable median income. 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 H.B. 1472 amends the Government Code to raise the cap on the annual household income of a recipient of a loan under the owner-builder loan program from 60 percent of the greater of the state or local median family income to 80 percent of the applicable median income. EFFECTIVE DATE On passage, or, if the bill does not receive the necessary vote, September 1, 2023.
BILL ANALYSIS
# BILL ANALYSIS
H.B. 1472
By: Walle
Urban Affairs
Committee Report (Unamended)
H.B. 1472
By: Walle
Urban Affairs
Committee Report (Unamended)
BACKGROUND AND PURPOSE Demand for affordable housing in Texas is at an all-time high, yet the cost of construction continues to increase and, in turn, prices the workforce out of the housing market. The Texas Bootstrap Loan Program, an owner-builder loan program operated by the Texas Department of Housing and Community Affairs, offers a solution to home affordability. However, participation in the program remains financially difficult even for eligible owner-builders at the high end of the program's cap of 60 percent of the greater of a state or local median family income. H.B. 1472 seeks to make more owner-builders eligible for the loan program by raising the cap for the applicable median income.
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 H.B. 1472 amends the Government Code to raise the cap on the annual household income of a recipient of a loan under the owner-builder loan program from 60 percent of the greater of the state or local median family income to 80 percent of the applicable median income.
EFFECTIVE DATE On passage, or, if the bill does not receive the necessary vote, September 1, 2023.
BACKGROUND AND PURPOSE
Demand for affordable housing in Texas is at an all-time high, yet the cost of construction continues to increase and, in turn, prices the workforce out of the housing market. The Texas Bootstrap Loan Program, an owner-builder loan program operated by the Texas Department of Housing and Community Affairs, offers a solution to home affordability. However, participation in the program remains financially difficult even for eligible owner-builders at the high end of the program's cap of 60 percent of the greater of a state or local median family income. H.B. 1472 seeks to make more owner-builders eligible for the loan program by raising the cap for the applicable median income.
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
H.B. 1472 amends the Government Code to raise the cap on the annual household income of a recipient of a loan under the owner-builder loan program from 60 percent of the greater of the state or local median family income to 80 percent of the applicable median income.
EFFECTIVE DATE
On passage, or, if the bill does not receive the necessary vote, September 1, 2023.