SJR 60 proposes a constitutional amendment to require that certain conditions be met for the refinancing of a home equity loan to be secured by a voluntary lien on a homestead. The amendment also would: redefine what is excluded in the calculation of the cap on fees associated with a home equity loan, lower the cap from 3% to 2% of the original principal amount of the extension of credit, and specify that such fees are in addition to any bona fide discount points used to buy down the interest rate. The amendment would further specify the list of authorized lenders to make home equity loans, change the threshold for an advance of a home equity line of credit, allow agricultural property owners to acquire home equity loans, and update technical terminology in the Texas Constitution. The amendment would be effective on January 1, 2018, and applicable only to a home equity loan made or refinanced on or after that date.