The bill, H.B. No. 4601, establishes a down payment assistance grant program specifically for veterans purchasing manufactured homes in Texas. It introduces a new section, 162.0105, to the Natural Resources Code, which outlines the eligibility criteria for veterans, the conditions under which grants can be awarded, and the management of a newly created manufactured home grant fund. This fund will be financed through a portion of sales and use tax revenue, with 10% of the revenue from these taxes allocated to the fund as specified in the new Section 158.059 of the Tax Code. The bill also stipulates that grants can only be awarded under a contract that ensures the public purpose of providing affordable housing is met.

Additionally, the bill includes provisions regarding the occupancy and transfer of manufactured homes purchased with grant assistance, requiring that the original veteran purchaser occupy the home for three years before any transfer can occur. The board administering the grant program is granted the authority to waive this time limitation under certain circumstances, such as the veteran's death or financial incapacity. The act is set to take effect on September 1, 2025, and aims to enhance housing opportunities for veterans in Texas.

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