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A BILL TO BE ENTITLED
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AN ACT
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relating to requirements for beneficial tax treatment related to a |
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leasehold or other possessory interest in a public facility used to |
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provide multifamily housing. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 303.042(f), Local Government Code, is |
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amended to read as follows: |
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(f) Notwithstanding Subsections (a) and (b), during the |
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period of time that a corporation owns a particular public |
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facility, a leasehold or other possessory interest in the real |
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property of the public facility granted by the corporation shall |
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be treated in the same manner as a leasehold or other possessory |
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interest in real property granted by an authority under Section |
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379B.011(b) if the requirements under Section 303.0425 are met. |
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SECTION 2. Subchapter B, Chapter 303, Local Government |
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Code, is amended by adding Section 303.0425 to read as follows: |
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Sec. 303.0425. REQUIREMENTS FOR BENEFICIAL TAX TREATMENT |
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RELATING TO CERTAIN PUBLIC FACILITIES. (a) In this section: |
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(1) "Developer" means a private entity that constructs |
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or rehabilitates a development. |
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(2) "Housing choice voucher program" means the housing |
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choice voucher program under Section 8, United States Housing Act |
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of 1937 (42 U.S.C. Section 1437f). |
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(3) "Housing development" means a development |
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constructed or rehabilitated to provide multifamily housing. |
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(4) "Public facility user" means a developer or other |
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private entity that has a leasehold or other possessory interest in |
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a public facility used to provide multifamily housing. |
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(b) Section 303.042(f) applies to a leasehold or other |
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possessory interest in a public facility only if the public |
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facility user meets the requirements of this section. The |
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requirements prescribed by this section apply only to the |
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application of taxes related to a leasehold or other possessory |
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interest in a public facility under Section 303.042(f) and do not |
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restrict the authority of a corporation to lease a public facility |
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to a private entity under terms other than the terms described by |
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this section. |
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(c) A public facility user may not: |
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(1) refuse to rent a residential unit in a housing |
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development to an individual or family because the individual or |
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family participates in the housing choice voucher program; or |
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(2) use a financial or minimum income standard that |
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requires an individual or family participating in the housing |
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choice voucher program to have a monthly income of more than 250 |
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percent of the individual's or family's share of the total monthly |
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rent payable for a residential unit. |
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SECTION 3. Section 303.0425, Local Government Code, as |
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added by this Act, applies only to a leasehold or other possessory |
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interest in a public facility granted by a public facility |
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corporation to a public facility user, as defined by that section, |
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on or after the effective date of this Act. |
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SECTION 4. This Act takes effect September 1, 2023. |