85R14526 JAM-F     By: Guillen H.B. No. 2528     Substitute the following for H.B. No. 2528:     By:  Alvarado C.S.H.B. No. 2528       A BILL TO BE ENTITLED   AN ACT   relating to predevelopment loans provided to community housing   development organizations by the Texas Department of Housing and   Community Affairs.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Subchapter J, Chapter 2306, Government Code, is   amended by adding Section 2306.233 to read as follows:          Sec. 2306.233.  PREDEVELOPMENT LOANS. (a) The department   may issue to a community housing development organization certified   by the department a project-specific predevelopment loan to   facilitate the development of a project that, if considered   feasible, will receive an award of financial assistance under the   terms of the federal HOME Investment Partnerships Program   established under Title II of the Cranston-Gonzalez National   Affordable Housing Act (42 U.S.C. Section 12701 et seq.).          (b)  A predevelopment loan issued under this section may not   be used to pay:                (1)  project costs that exceed customary and reasonable   project preparation costs; or                (2)  administrative expenses of a community housing   development organization.          SECTION 2.  This Act takes effect September 1, 2017.