The bill establishes a down payment assistance grant program specifically for veterans purchasing manufactured homes. 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 newly added Section 158.059 of the Tax Code. The program aims to provide affordable housing options for veterans while ensuring that the state receives a return benefit from the grants awarded.

Additionally, the bill stipulates that grants can only be awarded to veterans who occupy the manufactured home as their principal residence for three years, with provisions for waiving this requirement under certain circumstances, such as the veteran's death or financial incapacity. The board responsible for administering the fund will also set income limits and grant values, ensuring that the program is effectively implemented. The bill is set to take effect on September 1, 2025, allowing time for the necessary administrative processes to be established.

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