Proposing a constitutional amendment increasing the amount of debt that may be secured by a homestead for purposes of refinancing a loan including those with an extension of credit guaranteed by the United States Department of Veterans Affairs.

SJR 79 proposes a constitutional amendment to Texas law that would increase the maximum debt secured by a homestead (primary residence) for refinancing purposes. Specifically, it amends Article XVI, Section 50(a)(6)(B) of the Texas Constitution to allow homestead debt to reach 100% of the property's fair market value when refinancing a loan - such as those guaranteed by the U.S. Department of Veterans Affairs (VA) - instead of the current 80% limit. This change would directly benefit homeowners, particularly veterans using VA-guaranteed loans, by enabling them to secure larger refinanced amounts against their homes. The amendment requires voter approval to take effect.