85R11103 JG-F     By: Watson S.B. No. 989       A BILL TO BE ENTITLED   AN ACT   relating to the amount of money transferred to the owner-builder   revolving loan fund and the maximum loan amount made to persons   under the owner-builder loan program.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 2306.754(b), Government Code, is amended   to read as follows:          (b)  If it is not possible for an owner-builder to purchase   necessary real property and build or rehabilitate adequate housing   for $45,000, the owner-builder must obtain the amount necessary   that exceeds $45,000 from other sources of funds.  [The total amount   of amortized, repayable loans made by the department and other   entities to an owner-builder under this subchapter may not exceed   $90,000.]          SECTION 2.  Section 2306.7581(a-1), Government Code, is   amended to read as follows:          (a-1)  Each state fiscal year the department shall transfer   at least $5.5 [$3] million to the owner-builder revolving loan fund   from money received under 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.),   from money in the housing trust fund, or from money appropriated by   the legislature to the department.  This subsection expires on, and   a transfer may not be made under this subsection for a state fiscal   year that begins after, the later of August 31, 2025, or the last   day of the first state fiscal year for which an audited financial   statement completed by an independent certified public accountant   confirms that annual repayments made to the department under this   subchapter equal the projected amount of funding made under this   subchapter [2020].          SECTION 3.  (a)  As soon as practicable after the effective   date of this Act, the Texas Department of Housing and Community   Affairs shall adopt rules necessary to implement Sections   2306.754(b) and 2306.7581(a-1), Government Code, as amended by this   Act.          (b)  The change in law made by this Act in amending Section   2306.7581, Government Code, applies beginning with the state fiscal   year that begins September 1, 2017.          SECTION 4.  This Act takes effect immediately if it receives   a vote of two-thirds of all the members elected to each house, as   provided by Section 39, Article III, Texas Constitution.  If this   Act does not receive the vote necessary for immediate effect, this   Act takes effect September 1, 2017.