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Relating to the purposes of and income eligibility limits for
participation in programs offered by the Texas State Affordable
No fiscal implication to the State is anticipated.
HB 1402 would expand the Texas State Affordable Housing Corporation duties to promoting economic development opportunities. It would also include individuals and families of "moderate income" among individuals and families for whom it is part of the public purpose of the TSAHC to perform activities and services that will promote the public health, safety, and welfare. This would enable these individuals and families to become eligible for loans under the home loan program.
Texas Action recommends opposing HB 1402 because it expands the specific requirements for the Texas State Affordable Housing Corporation for single family loans and adds wasteful economic development policies to the corporation's public purpose. For these reasons, and because it would infringe on our limited government and free market principles, we oppose HB 1402.