Texas Proposition 6 (2009)
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The measure, authored by Rep. Frank Corte, Jr., allows the sale of state general obligation bonds in order to sell property and land to Texas veterans. In addition, the general obligation bonds could be used to provide home or land mortgage loans to those veterans. The bill also states that the amount of outstanding bonds could not exceed the amount of authorized state obligation bonds.
The bill was sponsored by Sen. Leticia Van de Putte.
|Texas Proposition 6|
Text of measure
The short ballot summary Texas voters saw on their ballot was "The constitutional amendment authorizing the Veterans' Land Board to issue general obligation bonds in amounts equal to or less than amounts previously authorized."
- See also: Amending the Texas Constitution
|The Veterans' Land Board may provide for, issue, and sell general obligation bonds of the state for the purpose of selling land to veterans of the state or providing home or land mortgage loans to veterans of the state in a principal amount of outstanding bonds that must at all times be equal to or less than the aggregate principal amount of state general obligation bonds previously authorized for those purposes by prior constitutional amendments. Bonds and other obligations issued or executed under the authority of this subsection may not be included in the computation required by Section 49-j of this article. The bond proceeds shall be deposited in or used to benefit and augment the Veterans' Land Fund, the Veterans' Housing Assistance Fund, or the Veterans' Housing Assistance Fund II, as determined appropriate by the Veterans' Land Board, and shall be administered and invested as provided by law. Payments of principal and interest on the bonds, including payments made under a bond enhancement agreement with respect to principal of or interest on the bonds, shall be made from the sources and in the manner provided by this section for general obligation bonds issued for the benefit of the applicable fund.|
Section 49-b(w) previously read:
|(w) In addition to the general obligation bonds authorized to be issued and to be sold by the Veterans' Land Board by previous constitutional amendments, the Veterans' Land Board may provide for, issue, and sell general obligation bonds of the state to provide home mortgage loans to veterans of the state. The principal amount of outstanding bonds authorized by this subsection may not at any one time exceed $500 million. The bond proceeds shall be deposited in or used to benefit and augment the Veterans' Housing Assistance Fund II and shall be administered and invested as provided by law. Payments of principal and interest on the bonds, including payments made under a bond enhancement agreement with respect to principal of or interest on the bonds, shall be made from the sources and in the manner provided by this section for general obligation bonds issued for the benefit of the Veterans' Housing Assistance Fund II.|
- Main article: Endorsements of Texas ballot measures, 2009
Editorial boards in support
- The Austin Chronicle supportd Proposition 6. The editorial board said,"This allows rollover bond authority without a special authorization every single time; it's not a constitutional matter."
- The El Paso Times is in favor of the proposition. They said, "This will allow the Veterans Land Board to continue to issue loans to veterans, using money that has been paid back on previous loans."
Editorial boards opposed
- The Star-Telegram opposed Proposition 6. The editorial board said,"The Veterans’ Land Board sells bonds to make reduced-rate loans for veterans who buy homes or land. It’s a great program. The amount of outstanding bonds, backed by the state but historically paid off by loan recipients at extremely low default rates, is limited by the constitution. Every time the VLB needs more money, it has to come to voters for a constitutional amendment."
No committees or contributions to campaigns relating to Proposition 6 were reported.
Path to the ballot
- See also: Laws governing direct democracy in Texas
As laid out in Article 17 of the Texas Constitution, in order for a proposed constitutional amendment to be placed on the ballot, the Texas State Legislature must propose the amendment in a joint resolution of both the Texas State Senate and the Texas House of Representatives. The joint resolution can originate in either the House or the Senate. The resolution must be adopted by a vote of at least two-thirds of the membership of each house of the legislature. That amounts to a minimum of 100 votes in the House of Representatives and 21 votes in the Senate.
- HJR 116 summary from Texas Legislative Reference Library
- Texas Secretary of State Official Website
- Past Texas Amendment Election Results
- Amendment Overview
- KGNS-TV,"Eleven proposed constitutional amendments before Texas voters this November," October 19, 2009
- The Lubbock Avalanche-Journal,"Key items on ballot for Texans," October 18, 2009
- Fort Worth-Star Telegram, "Tuesday's ballot includes 11 constitutional amendments," November 1, 2009
- Dallas Morning-News, "Texas proposition advocates make final push," November 2, 2009
- History of HJR 116
- Texas Secretary of State, "Election Night Returns"
- Texas Secretary of State, "Official Ballot Language and Order for the Nov.3, 2009," July 28, 2009
- The Austin Chronicle,"The Austin Chronicle' Endorsements," October 16, 2009
- El Paso Times,"Propositions: Appraisal reform on November ballot," October 18, 2009
- Star-Telegram,"Nov. 3 election recommendations," October 16, 2009
- Follow the Money, Proposition 6
- Enrolled Version of HJR 116