89R18293 JAM-D
By: Johnson S.J.R. No. 75
A JOINT RESOLUTION
proposing a constitutional amendment creating the workforce
housing fund to facilitate the development of affordable workforce
housing and transferring to that fund $2 billion from state general
revenue.
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Article III, Texas Constitution, is amended by
adding Section 68 to read as follows:
Sec. 68. (a) The workforce housing fund is created as a
special fund in the state treasury. Money in the fund may be used
only to provide low-interest loans to developers for the purposes
of facilitating the development of affordable workforce housing.
The fund shall be administered by the Texas Department of Housing
and Community Affairs or that department's successor in function.
(b) The fund consists of money transferred to the fund under
this section.
(c) The repayment of principal and interest from loans made
from the fund shall be deposited to the credit of the general
revenue fund.
(c-1) On January 1, 2026, the comptroller shall transfer $2
billion from this state's general revenue fund to the workforce
housing fund. The transfer made under this subsection is not an
appropriation of state tax revenues for the purposes of Section 22,
Article VIII, of this constitution. This subsection expires
January 1, 2029.
(d) The reasonable expenses of managing the assets of the
workforce housing fund shall be paid from the fund.
(e) The legislature by general law shall provide for the
manner in which the assets of the workforce housing fund may be
used, subject to the limitations provided by this section.
SECTION 2. This proposed constitutional amendment shall be
submitted to the voters at an election to be held November 4, 2025.
The ballot shall be printed to provide for voting for or against the
proposition: "The constitutional amendment creating the workforce
housing fund to facilitate the development of affordable workforce
housing and transferring to that fund $2 billion from state general
revenue."