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.