reglab/housing_qa huggingface dataset:
TX Govt Code § 2306.270 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle G - Economic Development Programs Involving Both State and Local Governments|Chapter 2306 - Texas Department of Housing and Community Affairs|Subchapter L. Housing Finance Division: Regulation of Housing Sponsors|Section 2306.270. Regulation of Retirement of Capital Investment or Redemption of Stock

Sec. 2306.270.  REGULATION OF RETIREMENT OF CAPITAL INVESTMENT OR REDEMPTION OF STOCK.  The department shall regulate the retirement of a capital investment or the redemption of stock of a limited profit housing sponsor if the retirement or redemption, when added to a dividend or other distribution, exceeds in any one fiscal year the permitted percentage, as allowed by the department, of the original face amount of the limited profit housing sponsor's investment or equity in a housing development.|Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.  Amended by Acts 1997, 75th Leg., ch. 980, Sec. 38, eff. Sept. 1, 1997.|
TX Govt Code § 2306.272 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle G - Economic Development Programs Involving Both State and Local Governments|Chapter 2306 - Texas Department of Housing and Community Affairs|Subchapter L. Housing Finance Division: Regulation of Housing Sponsors|Section 2306.272. Housing Sponsor Investments

Sec. 2306.272.  HOUSING SPONSOR INVESTMENTS.  (a)  A principal or stockholder of a housing sponsor may not earn, accept, or receive a per annum return on an investment in a housing development financed by the department greater than that allowed by department rule.(b)  A housing sponsor's equity in a housing development is the difference between the mortgage loan and the total housing development cost.(c)  The department shall establish a housing sponsor's equity when the final mortgage advance is made.(d)  For the purposes of this section, the amount established under Subsection (c) remains constant during the life of the department's mortgage on the development, except for additional equity investment made by the sponsor with the department's approval or at its order.(e)  In this section, "housing development costs" has the meaning assigned by Section 2306.271(d).|Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.|
TX Govt Code § 2306.273 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle G - Economic Development Programs Involving Both State and Local Governments|Chapter 2306 - Texas Department of Housing and Community Affairs|Subchapter L. Housing Finance Division: Regulation of Housing Sponsors|Section 2306.273. Limitation on Application of Certain Provisions of Subchapter

Sec. 2306.273.  LIMITATION ON APPLICATION OF CERTAIN PROVISIONS OF SUBCHAPTER.  Sections 2306.261 through 2306.271 do not apply to a housing development:(1)  for which individuals or families of low and very low income or families of moderate income receive a mortgage loan under this chapter;  and(2)  that initially is intended for occupancy by those individuals or families.|Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.|
TX Govt Code § 2306.291 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle G - Economic Development Programs Involving Both State and Local Governments|Chapter 2306 - Texas Department of Housing and Community Affairs|Subchapter M. Housing Finance Division: Purchase and Sale of Mortgage Loans|Section 2306.291. Purchase and Sale of Mortgage Loans

Sec. 2306.291.  PURCHASE AND SALE OF MORTGAGE LOANS.  (a)  The department may purchase and take assignments from mortgage lenders or the federal government of notes and other obligations, including contracts for deed and mortgages, evidencing loans or interest in loans for the construction, remodeling, improvement, rehabilitation, purchase, leasing, or refinancing of housing developments for individuals and families of low and very low income and families of moderate income.(b)  The department may sell, at public or private sale, with or without public bidding, a mortgage or other obligation held by the department.|Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.  Amended by Acts 1997, 75th Leg., ch. 980, Sec. 39, eff. Sept. 1, 1997.|
TX Govt Code § 2306.292 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle G - Economic Development Programs Involving Both State and Local Governments|Chapter 2306 - Texas Department of Housing and Community Affairs|Subchapter M. Housing Finance Division: Purchase and Sale of Mortgage Loans|Section 2306.292. Eligibility of Mortgage Loans for Purchase

Sec. 2306.292.  ELIGIBILITY OF MORTGAGE LOANS FOR PURCHASE.  A mortgage loan or interest in a mortgage loan is not eligible for purchase by or on behalf of the department from a mortgage lender unless the mortgage lender certifies that the mortgage loan or interest in the mortgage loan is for a housing development for individuals or families of low and very low income or for families of moderate income.|Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.|
TX Govt Code § 2306.293 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle G - Economic Development Programs Involving Both State and Local Governments|Chapter 2306 - Texas Department of Housing and Community Affairs|Subchapter M. Housing Finance Division: Purchase and Sale of Mortgage Loans|Section 2306.293. Federally Assisted Mortgage Loans

Sec. 2306.293.  FEDERALLY ASSISTED MORTGAGE LOANS.  A mortgage loan or interest in a mortgage loan purchased or sold under this subchapter may include a mortgage loan that is insured, guaranteed, or assisted by the federal government or a mortgage loan that the federal government has committed to insure, guarantee, or assist.|Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.|
TX Govt Code § 2306.294 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle G - Economic Development Programs Involving Both State and Local Governments|Chapter 2306 - Texas Department of Housing and Community Affairs|Subchapter M. Housing Finance Division: Purchase and Sale of Mortgage Loans|Section 2306.294. Mortgage Loan Purchase Price

Sec. 2306.294.  MORTGAGE LOAN PURCHASE PRICE.  (a)  On purchasing a mortgage loan or interest in a mortgage loan from a mortgage lender, the department shall pay a purchase price equal to the outstanding principal balance, except that a discount from the principal balance or the payment of a premium may be used to produce a fair rate of return consistent with the obligations of the department and the purposes of this chapter.(b)  In addition to payment of the outstanding principal balance, the department shall pay the accrued interest due to the date on which the mortgage loan is delivered against payment.|Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.|
TX Govt Code § 2306.295 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle G - Economic Development Programs Involving Both State and Local Governments|Chapter 2306 - Texas Department of Housing and Community Affairs|Subchapter M. Housing Finance Division: Purchase and Sale of Mortgage Loans|Section 2306.295. Rules Governing Purchase and Sale of Mortgage Loans

Sec. 2306.295.  RULES GOVERNING PURCHASE AND SALE OF MORTGAGE LOANS.  The department shall adopt rules governing the purchase and sale of mortgage loans and the application of sale proceeds, including rules governing:(1)  procedures for submitting requests or inviting proposals for the purchase and sale of mortgage loans or interest in the mortgage loans;(2)  restrictions on the number of family units, location, or other qualifications of residences to be financed by residential mortgage loans;(3)  income limits of individuals and families of low and very low income or families of moderate income occupying a residence financed by a residential mortgage loan;(4)  restrictions relating to the interest rates on mortgage loans or the return realized by mortgage lenders;(5)  requirements for commitments by mortgage lenders relating to mortgage loans;(6)  schedules of fees and charges necessary for expenses and reserves of the housing finance division;(7)  resale of the housing development;  and(8)  any other matter related to the power of the department to purchase and sell mortgage loans or interests in mortgage loans.|Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.|
TX Govt Code § 2306.296 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle G - Economic Development Programs Involving Both State and Local Governments|Chapter 2306 - Texas Department of Housing and Community Affairs|Subchapter M. Housing Finance Division: Purchase and Sale of Mortgage Loans|Section 2306.296. Review and Substitution of Purchased Mortgage Loans

Sec. 2306.296.  REVIEW AND SUBSTITUTION OF PURCHASED MORTGAGE LOANS.  (a)  The department shall review each mortgage loan purchased or financed by the department to determine if the loan meets:(1)  the conditions of this chapter;(2)  the department's rules;  and(3)  any commitment made with the mortgage lender to purchase mortgage loans.(b)  The department may require the substitution of another mortgage loan if it determines that a loan does not comply with the criteria of Subsection (a).|Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.|
TX Govt Code § 2306.297 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle G - Economic Development Programs Involving Both State and Local Governments|Chapter 2306 - Texas Department of Housing and Community Affairs|Subchapter M. Housing Finance Division: Purchase and Sale of Mortgage Loans|Section 2306.297. Application of Provisions Relating to Loan Terms and Conditions

Sec. 2306.297.  APPLICATION OF PROVISIONS RELATING TO LOAN TERMS AND CONDITIONS.  Sections 2306.225 through 2306.229 apply to the purchase of mortgage loans.|Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.|
TX Govt Code § 2306.351 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle G - Economic Development Programs Involving Both State and Local Governments|Chapter 2306 - Texas Department of Housing and Community Affairs|Subchapter P. Housing Finance Division Bonds: Issuance of Bonds|Section 2306.351. Issuance of Bonds

Sec. 2306.351.  ISSUANCE OF BONDS.  (a)  The department may issue bonds under this chapter, including qualified 501(c)(3) bonds under Section 145, Internal Revenue Code of 1986 (26 U.S.C. Section 145), and may:(1)  provide for and secure payment of the bonds;(2)  provide for the rights of the holders of the bonds, as permitted by this chapter and the Texas Constitution;  and(3)  purchase, hold, cancel, resell, or otherwise dispose of its bonds, subject to restrictions in a resolution authorizing issuance of its bonds.(b)  In connection with or incidental to issuing and selling its bonds, the department may enter into contracts that the board considers necessary or appropriate for the department's obligation, as represented by the bonds and incidental contracts, to be placed, in whole or in part, on the basis desired by the board, including interest rate, currency, or cash flow.(c)  Contracts that may be entered into under Subsection (b) include contracts:(1)  commonly known as interest rate swap agreements, currency swap agreements, or forward payment conversion agreements;(2)  providing for payments based on levels of or changes in interest rates or currency exchange rates;(3)  to exchange cash flows or a series of payments;  or(4)  that include options, puts or calls to hedge payment, currency, rate, spread, or similar exposure.(d)  A contract entered into under this section shall be on terms and conditions approved by the board.|Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.  Amended by Acts 1997, 75th Leg., ch. 980, Sec. 40, eff. Sept. 1, 1997.|
TX Govt Code § 2306.352 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle G - Economic Development Programs Involving Both State and Local Governments|Chapter 2306 - Texas Department of Housing and Community Affairs|Subchapter P. Housing Finance Division Bonds: Issuance of Bonds|Section 2306.352. Texas Housing Bonds

Sec. 2306.352.  TEXAS HOUSING BONDS.  (a)  The board by resolution may provide for the issuance of negotiable bonds as authorized by the Texas Constitution.(b)  The bonds shall be on a parity and shall be called Texas Housing Bonds.(c)  The board:(1)  may issue the bonds in one or several installments;  and(2)  shall date the bonds of each issue.|Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.|
TX Govt Code § 2306.353 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle G - Economic Development Programs Involving Both State and Local Governments|Chapter 2306 - Texas Department of Housing and Community Affairs|Subchapter P. Housing Finance Division Bonds: Issuance of Bonds|Section 2306.353. Revenue Bonds

Sec. 2306.353.  REVENUE BONDS.  (a)  In addition to issuing general obligation bonds under Section 2306.352, the department may issue revenue bonds to provide money to carry out a purpose, power, or duty of the housing finance division under this chapter.(b)  The bonds may be issued from time to time in one or more series or issues.(c)  The bonds shall be payable as to principal, interest, and redemption premium, if any, from, and secured by, a first or subordinate lien on, and pledge of, all or part of the revenues, income, or other resources of the housing finance division, including:(1)  the repayments of mortgage loans;(2)  the earnings from investment or deposit of the reserve fund and other funds of the housing finance division;(3)  the fees, charges, and other amounts or payments received under this chapter;  and(4)  appropriations, grants, allocations, subsidies, rent supplements, guaranties, aid, contribution, or donations.|Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.|
TX Govt Code § 2306.354 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle G - Economic Development Programs Involving Both State and Local Governments|Chapter 2306 - Texas Department of Housing and Community Affairs|Subchapter P. Housing Finance Division Bonds: Issuance of Bonds|Section 2306.354. Definitive Refunding Bonds

Sec. 2306.354.  DEFINITIVE REFUNDING BONDS.  (a)  The department may issue definitive refunding bonds if the bonds are issued and delivered to refund:(1)  other department bonds;  or(2)  the obligations of:(A)  the department's predecessor;  or(B)  a local housing finance corporation.(b)  The bonds must be payable as to principal, interest, and redemption premium, if any, from the refunding bonds and other revenues, income, or resources of the department.(c)  The department may contract to issue, sell, and deliver the definitive refunding bonds in a manner that will provide the money necessary to pay a required part of the principal, interest, and redemption premium, if any, on the refunded bonds or obligations when due.(d)  The refunded bonds or obligations may be refunded in another manner permitted by this chapter or other state law, including Chapter 1207.|Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.  Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.247, eff. Sept. 1, 2001.|
TX Govt Code § 2306.355 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle G - Economic Development Programs Involving Both State and Local Governments|Chapter 2306 - Texas Department of Housing and Community Affairs|Subchapter P. Housing Finance Division Bonds: Issuance of Bonds|Section 2306.355. Issuance of Additional Parity or Subordinate Lien Bonds

Sec. 2306.355.  ISSUANCE OF ADDITIONAL PARITY OR SUBORDINATE LIEN BONDS.  The department may issue additional parity bonds or subordinate lien bonds under terms or conditions in the resolution authorizing issuance of the bonds.|Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.|
TX Govt Code § 2306.356 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle G - Economic Development Programs Involving Both State and Local Governments|Chapter 2306 - Texas Department of Housing and Community Affairs|Subchapter P. Housing Finance Division Bonds: Issuance of Bonds|Section 2306.356. Issuance of Bonds to Fund Department Reserves or Funds

Sec. 2306.356.  ISSUANCE OF BONDS TO FUND DEPARTMENT RESERVES OR FUNDS.  The department may issue bonds to provide all or part of the money required for funding or increasing the department's reserves or funds.|Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.|
TX Govt Code § 2306.357 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle G - Economic Development Programs Involving Both State and Local Governments|Chapter 2306 - Texas Department of Housing and Community Affairs|Subchapter P. Housing Finance Division Bonds: Issuance of Bonds|Section 2306.357. Bonds Issued by Texas Housing Agency

Sec. 2306.357.  BONDS ISSUED BY TEXAS HOUSING AGENCY.  A general obligation or revenue bond issued by the Texas Housing Agency becomes a general obligation or revenue bond of the department.|Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.  Amended by Acts 1997, 75th Leg., ch. 980, Sec. 41, eff. Sept. 1, 1997.|
TX Govt Code § 2306.359 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle G - Economic Development Programs Involving Both State and Local Governments|Chapter 2306 - Texas Department of Housing and Community Affairs|Subchapter P. Housing Finance Division Bonds: Issuance of Bonds|Section 2306.359. Issuance of Private Activity Bonds

Sec. 2306.359.  ISSUANCE OF PRIVATE ACTIVITY BONDS.  (a)  In evaluating an application for an issuance of private activity bonds, the department shall score and rank the application using a point system based on criteria that are adopted by the department, including criteria regarding:(1)  the income levels of tenants of the development, consistent with the funding priorities provided by Section 1372.0321;(2)  the rent levels of the units;(3)  the level of community support for the application;(4)  the period of guaranteed affordability for low income tenants;(5)  the cost per unit of the development;(6)  the size, quality, and amenities of the units;(7)  the services to be provided to tenants of the development; and(8)  other criteria as developed by the board.(b)  The department shall make available on its website details of the scoring system used by the department to score applications.(c)  The department shall underwrite the applications by determining:(1)  that the general contractor's profit, overhead, and general requirements are within the maximum limit published by the department;(2)  that the developer fee for the proposed project does not exceed the maximum amount allowed by the department;  and(3)  if applicable, the amount of tax credits available to the proposed development.(d)  In adopting criteria for underwriting applications under this section, the department shall attach additional weight to criteria that will determine the maximum amount that can be awarded that will:(1)  result in an issuance of private activity bonds for developments serving the lowest income tenants;  and(2)  produce the greatest number of high-quality units committed to remaining affordable to qualified tenants for extended periods.|Added by Acts 2003, 78th Leg., ch. 330, Sec. 15, eff. Sept. 1, 2003.Amended by: Acts 2007, 80th Leg., R.S., Ch. 1341 (S.B. 1908), Sec. 25, eff. September 1, 2007.|
TX Govt Code § 2306.371 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle G - Economic Development Programs Involving Both State and Local Governments|Chapter 2306 - Texas Department of Housing and Community Affairs|Subchapter Q. Housing Finance Division Bonds: Board Action on Bonds|Section 2306.371. Board Authorization of Bonds

Sec. 2306.371.  BOARD AUTHORIZATION OF BONDS.  Bonds issued by the department must be authorized by board resolution.|Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.|
TX Govt Code § 2306.372 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle G - Economic Development Programs Involving Both State and Local Governments|Chapter 2306 - Texas Department of Housing and Community Affairs|Subchapter Q. Housing Finance Division Bonds: Board Action on Bonds|Section 2306.372. Department Procedures

Sec. 2306.372.  DEPARTMENT PROCEDURES.  In a resolution authorizing the issuance of department bonds, the board may prescribe the systems and procedures under which the department shall function.|Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.|
TX Govt Code § 2306.373 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle G - Economic Development Programs Involving Both State and Local Governments|Chapter 2306 - Texas Department of Housing and Community Affairs|Subchapter Q. Housing Finance Division Bonds: Board Action on Bonds|Section 2306.373. Use of Bond Proceeds

Sec. 2306.373.  USE OF BOND PROCEEDS.  The board may provide in a resolution authorizing the issuance of department bonds that part of the proceeds from the sale of the bonds may be used to:(1)  pay the costs and expenses of issuing the bonds;(2)  pay interest on the bonds during a period required by the board;(3)  pay or repay the department's operation and maintenance expenses to the extent and for the period specified in the resolution;  and(4)  fund, increase, or restore any depletions of the reserve fund or of other reserves or funds for any purpose.|Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.|
TX Govt Code § 2306.374 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle G - Economic Development Programs Involving Both State and Local Governments|Chapter 2306 - Texas Department of Housing and Community Affairs|Subchapter Q. Housing Finance Division Bonds: Board Action on Bonds|Section 2306.374. Facsimile Signatures and Seals

Sec. 2306.374.  FACSIMILE SIGNATURES AND SEALS.  (a)  The board may state in a resolution authorizing the issuance of an installment or series of bonds the extent to which the presiding officer of the board or any other officer may use a facsimile signature or facsimile seal instead of a manual signature or manually impressed seal to execute or attest the bonds and appurtenant coupons.(b)  An interest coupon may be signed by the facsimile signature of the presiding officer of the board.|Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.|
TX Govt Code § 2306.375 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle G - Economic Development Programs Involving Both State and Local Governments|Chapter 2306 - Texas Department of Housing and Community Affairs|Subchapter Q. Housing Finance Division Bonds: Board Action on Bonds|Section 2306.375. Personal Liability of Board Member or Director

Sec. 2306.375.  PERSONAL LIABILITY OF BOARD MEMBER OR DIRECTOR.  A member of the board or the director is not liable personally for bonds issued or contracts executed by the department or for any other action taken in accordance with the powers and duties authorized by this chapter.|Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.  Amended by Acts 1997, 75th Leg., ch. 980, Sec. 43, eff. Sept. 1, 1997.|
TX Govt Code § 2306.391 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle G - Economic Development Programs Involving Both State and Local Governments|Chapter 2306 - Texas Department of Housing and Community Affairs|Subchapter R. Housing Finance Division Bonds: Form; Terms|Section 2306.391. Form

Sec. 2306.391.  FORM.  The department's bonds may be issued as:(1)  serial bonds;(2)  term bonds;  or(3)  a combination of serial and term bonds as determined by the board.|Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.|