HBA-JEK H.B. 3451 77(R)    BILL ANALYSIS


Office of House Bill AnalysisH.B. 3451
By: Gallego
Urban Affairs
3/26/2001
Introduced



BACKGROUND AND PURPOSE 

The Texas State Affordable Housing Corporation (TSAHC) is a nonprofit
corporation that was created by the legislature in 1995 to help meet the
housing needs of low income residents in Texas.  TSAHC operates to provide
single and multifamily loans to low-income individuals without using state
appropriated general revenue.  TSAHC generates income primarily through
bond proceeds, grants, fees, and investment revenue.  In February 2000,
TSAHC redirected its efforts away from acting as a mortgage bank and grant
administrator to issuing taxable single and multifamily tax exempt mortgage
revenue bonds for the purpose of directing the proceeds of the bonds to
low-income households.  TSAHC is subject to the Sunset Act and will be
abolished September 1, 2001 unless continued by the legislature.  House
Bill 3451 continues TSAHC for two years as recommended by the Sunset
Commission. 

RULEMAKING AUTHORITY

It is the opinion of the Office of House Bill Analysis that this bill does
not expressly delegate any additional rulemaking authority to a state
officer, department, agency, or institution. 

ANALYSIS

House Bill 3451 amends the Government Code to continue the Texas State
Affordable Housing Corporation until September 1, 2003. 

EFFECTIVE DATE

September 1, 2001.