HBA-MSH H.J.R. 82 77(R)    BILL ANALYSIS


Office of House Bill AnalysisH.J.R. 82
By: Counts
State, Federal & International Relations
3/19/2001
Introduced



BACKGROUND AND PURPOSE 

Current articles of the Texas Constitution that govern the use of the
veterans' land fund, the veterans' housing assistance fund and the
veterans' housing assistance fund II do not provide for the use of those
funds for the veterans home or proposed veterans cemeteries programs of the
Veterans' Land Board (board).  Currently, the board is authorized to issue
additional general obligation bonds for the veterans' housing assistance
program.  However, it is estimated that those funds will be exhausted by
the end of 2001.  House Joint Resolution 82 requires the submission to the
voters of a constitutional amendment providing for the issuance of
additional general obligation bonds to provide home mortgage loans to
veterans.  

RULEMAKING AUTHORITY

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

ANALYSIS

House Joint Resolution 82 amends the Texas Constitution to provide that if
the Veterans' Land Board (board) determines that assets from the veterans'
land fund, the veterans' housing assistance fund, and the veterans' housing
assistance fund II, are not required for the purposes of the respective
fund, the board may use the assets to construct, acquire, own, operate,
maintain, enlarge, improve, furnish, or equip veterans homes or veterans
cemeteries.  The resolution authorizes the board to provide for, issue, and
sell general obligation bonds to provide home mortgage loans to veterans,
for which the principal amount of these bonds may not exceed $1 billion.
The bonds shall be used to augment and benefit the veterans' housing
assistance fund II. 

FOR ELECTION

This proposed constitutional amendment shall be submitted to the voters at
an election to be held November 6, 2001.