Texas Proposition 2, Reverse Mortgages Amendment (1999)

Texas Proposition 2
Election date November 2, 1999
Topic Business regulations and Property
Status Approved
Type Legislatively referred constitutional amendment	Origin State legislature

Texas Proposition 2 was on the ballot as a legislatively referred constitutional amendment in Texas on November 2, 1999. It was approved.

A "yes" vote supported redefining "reverse mortgage" to open the reverse mortgage market and requiring certain advances made on a reverse mortgage loan to be made according to terms established by loan documents.

A "no" vote opposed redefining "reverse mortgage" to open the reverse mortgage market and requiring certain advances made on a reverse mortgage loan to be made according to terms established by loan documents.

Election results

Texas Proposition 2
Result		Votes	Percentage
Yes		583,884	64.23%
No		325,162	35.77%

Results are officially certified.

Source

Text of measure

Ballot title

The ballot title for Proposition 2 was as follows:

“

Proposing a constitutional amendment relating to the making of advances under and payment of a reverse mortgage.

”

Full Text

The full text of this measure is available here.

Path to the ballot

See also: Amending the Texas Constitution

A two-thirds vote was needed in each chamber of the Texas State Legislature to refer the constitutional amendment to the ballot for voter consideration.

The constitutional amendment was introduced into the Texas State Legislature as Senate Joint Resolution 12 during the 76th regular legislative session in 1999.

See also

1999 Measures

• 1999 Measures
• Business regulations on the ballot
• Property on the ballot
• 1999 legislative sessions

Texas

• Texas ballot measures
• Texas ballot measure laws

News and analysis

• Ballot measure lawsuits
• Ballot measure readability
• Ballot measure polls

External links

• Legislative Reference Library of Texas, Constitutional Amendments