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Presentation, discussion, and possible action on an order proposing the repeal of 10 TAC Chapter 24, Texas Bootstrap Loan Program Rule, and an order proposing new 10 TAC Chapter 24, Texas Bootstrap Loan Program Rule, and directing their publication for public comment in the Texas Register
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RECOMMENDED ACTION
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WHEREAS, pursuant to Tex. Gov't Code ?2306.053, the Texas Department of Housing and Community Affairs (the Department) is authorized to adopt rules governing the administration of the Department and its programs; and
WHEREAS, pursuant to Tex. Gov't Code ?2306.752, the Department is required to establish, operate, monitor, and fund an Owner-Builder Loan Program to enable Owner- Builders to purchase or refinance real property on which to build new residential housing or improve existing residential housing, and the Texas Bootstrap Loan Program fulfills this statutory requirement;
WHEREAS, the proposed new 10 TAC Chapter 24, Texas Bootstrap Loan Program Rule, further clarifies program administration and Administrator certification requirements, updates terminology and housing counseling requirements, and defines income calculation requirements; and
WHEREAS, upon Board approval, the proposed new rule will be submitted to the Texas Register to be published for public comment, which will be accepted December 22, 2023 to January 22, 2024.
NOW, therefore, it is hereby
RESOLVED, that the Executive Director and his designees, be and each of them hereby are authorized, empowered and directed, for and on behalf of the Department to cause the proposed repeal of 10 TAC Chapter 24 and proposed new 10 TAC Chapter 24, regarding the Texas Bootstrap Loan Program, in the form presented to this meeting, to be published in the Texas Register for public comment and in connection therewith, make such non-substantive technical corrections as they may deem necessary to effectuate the foregoing, including the preparation of the subchapter specific pream...
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