BILL ANALYSIS Senate Research Center H.B. 1472 88R2368 JG-F By: Walle (West) Local Government 5/11/2023 Engrossed AUTHOR'S / SPONSOR'S STATEMENT OF INTENT H.B. 1472 attempts to amend the eligibility requirements for the Texas Department of Housing and Community Affairs (TDHCA) bootstrap programan owner-builder loan program (program). Eligible owner-builders with an income of 60 percent of area median income (AMI) have a hard time affording to participate in the program. By changing the qualification from 60 percent to 80 percent of AMI, TDHCA will be able to achieve greater success with the program and in turn qualify more participants. H.B. 1472 amends current law relating to eligibility requirements under the owner-builder loan program. RULEMAKING AUTHORITY This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency. SECTION BY SECTION ANALYSIS SECTION 1. Amends Section 2306.753(b), Government Code, as follows: (b) Provides that an owner-builder, to be eligible for a loan under Subchapter FF (Owner-Builder Loan Program): (1) is prohibited from having an annual income that exceeds 80 percent, rather than 60 percent, as determined by the Texas Department of Housing and Community Affairs, of the greater of the state or local median family income, when combined with the income of any person who resides with the owner-builder; and (2)-(4) makes no changes to these subdivisions. SECTION 2. Effective date: upon passage or September 1, 2023.
BILL ANALYSIS
Senate Research Center H.B. 1472
88R2368 JG-F By: Walle (West)
Local Government
5/11/2023
Engrossed
Senate Research Center
H.B. 1472
88R2368 JG-F
By: Walle (West)
Local Government
5/11/2023
Engrossed
AUTHOR'S / SPONSOR'S STATEMENT OF INTENT
H.B. 1472 attempts to amend the eligibility requirements for the Texas Department of Housing and Community Affairs (TDHCA) bootstrap programan owner-builder loan program (program). Eligible owner-builders with an income of 60 percent of area median income (AMI) have a hard time affording to participate in the program. By changing the qualification from 60 percent to 80 percent of AMI, TDHCA will be able to achieve greater success with the program and in turn qualify more participants.
H.B. 1472 amends current law relating to eligibility requirements under the owner-builder loan program.
RULEMAKING AUTHORITY
This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency.
SECTION BY SECTION ANALYSIS
SECTION 1. Amends Section 2306.753(b), Government Code, as follows:
(b) Provides that an owner-builder, to be eligible for a loan under Subchapter FF (Owner-Builder Loan Program):
(1) is prohibited from having an annual income that exceeds 80 percent, rather than 60 percent, as determined by the Texas Department of Housing and Community Affairs, of the greater of the state or local median family income, when combined with the income of any person who resides with the owner-builder; and
(2)-(4) makes no changes to these subdivisions.
SECTION 2. Effective date: upon passage or September 1, 2023.