| 1 | 1 | | 89R18293 JAM-D |
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| 2 | 2 | | By: Johnson S.J.R. No. 75 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | |
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| 6 | 6 | | |
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| 7 | 7 | | A JOINT RESOLUTION |
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| 8 | 8 | | proposing a constitutional amendment creating the workforce |
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| 9 | 9 | | housing fund to facilitate the development of affordable workforce |
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| 10 | 10 | | housing and transferring to that fund $2 billion from state general |
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| 11 | 11 | | revenue. |
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| 12 | 12 | | BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 13 | 13 | | SECTION 1. Article III, Texas Constitution, is amended by |
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| 14 | 14 | | adding Section 68 to read as follows: |
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| 15 | 15 | | Sec. 68. (a) The workforce housing fund is created as a |
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| 16 | 16 | | special fund in the state treasury. Money in the fund may be used |
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| 17 | 17 | | only to provide low-interest loans to developers for the purposes |
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| 18 | 18 | | of facilitating the development of affordable workforce housing. |
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| 19 | 19 | | The fund shall be administered by the Texas Department of Housing |
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| 20 | 20 | | and Community Affairs or that department's successor in function. |
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| 21 | 21 | | (b) The fund consists of money transferred to the fund under |
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| 22 | 22 | | this section. |
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| 23 | 23 | | (c) The repayment of principal and interest from loans made |
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| 24 | 24 | | from the fund shall be deposited to the credit of the general |
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| 25 | 25 | | revenue fund. |
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| 26 | 26 | | (c-1) On January 1, 2026, the comptroller shall transfer $2 |
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| 27 | 27 | | billion from this state's general revenue fund to the workforce |
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| 28 | 28 | | housing fund. The transfer made under this subsection is not an |
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| 29 | 29 | | appropriation of state tax revenues for the purposes of Section 22, |
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| 30 | 30 | | Article VIII, of this constitution. This subsection expires |
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| 31 | 31 | | January 1, 2029. |
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| 32 | 32 | | (d) The reasonable expenses of managing the assets of the |
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| 33 | 33 | | workforce housing fund shall be paid from the fund. |
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| 34 | 34 | | (e) The legislature by general law shall provide for the |
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| 35 | 35 | | manner in which the assets of the workforce housing fund may be |
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| 36 | 36 | | used, subject to the limitations provided by this section. |
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| 37 | 37 | | SECTION 2. This proposed constitutional amendment shall be |
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| 38 | 38 | | submitted to the voters at an election to be held November 4, 2025. |
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| 39 | 39 | | The ballot shall be printed to provide for voting for or against the |
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| 40 | 40 | | proposition: "The constitutional amendment creating the workforce |
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| 41 | 41 | | housing fund to facilitate the development of affordable workforce |
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| 42 | 42 | | housing and transferring to that fund $2 billion from state general |
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| 43 | 43 | | revenue." |
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