Section 2306.786 - Administration of Program; Rules(a) In administering the program, the department by rule shall adopt: (1) any subdivision standards in excess of local standards the department considers necessary;(2) loan application procedures;(3) program guidelines; and(4) contract award procedures.(b) The department shall adopt rules to:(1) ensure that a borrower under the program sells real property under the program only to an individual borrower, nonprofit housing developer, or for-profit housing developer for the purposes of constructing residential dwelling units; and(2) require a borrower under the program to convey real property under the program at a cost that is affordable to: (A) individuals and families of extremely low income; or(B) individuals and families of very low income.Tex. Gov't. Code § 2306.786
Added by Acts 2001, 77th Leg., ch. 1367, Sec. 2.13, eff. 9/1/2001.