Bill
HJR 99
85(R) - 2017
House Investments & Financial Services
House Investments & Financial Services
Finance
Property Rights
Resolutions
Companion Bill
SJR 60
Vote Recommendation
Neutral
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Neutral
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Neutral
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Neutral
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Neutral
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Neutral
Author(s)
Tan Parker
Bill Caption
Proposing a constitutional amendment establishing a lower amount for expenses that can be charged to a borrower and removing certain financing expense limitations for a home equity loan, establishing certain authorized lenders to make a home equity loan, changing certain options for the refinancing of home equity loans, changing the threshold for an advance of a home equity line of credit, and allowing home equity loans on agricultural homesteads.
Fiscal Notes
No fiscal implication to the State is anticipated, other than the cost of publication.
The cost to the state for publication of the resolution is $114,369.
Bill Analysis
HJR 99 would:
- establish a lower amount for expenses that can be charged to a borrower;
- remove certain financing expense limitations for a home equity loan;
- allow certain authorized lenders to make a home equity loan;
- change certain options for the refinancing of home equity loans;
- change the threshold for an advance of a home equity line of credit; and
- allow home equity loans on agricultural homesteads
Vote Recommendation Notes
This bill would add some regulations to the mortgage lending industry while removing others. In our view this is a net neutral in terms of overall government regulation. For this reason we remain neutral on HJR 99.
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