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A BILL TO BE ENTITLED
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AN ACT
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relating to reports on information regarding certain multifamily |
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residential developments to the Texas Department of Housing and |
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Community Affairs. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter A, Chapter 2306, Government Code, is |
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amended by adding Section 2306.009 to read as follows: |
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Sec. 2306.009. REQUIRED REPORT ON CERTAIN MULTIFAMILY |
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RESIDENTIAL DEVELOPMENTS; PUBLIC DATABASE. (a) This section |
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applies only to a multifamily residential development that: |
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(1) receives financial assistance administered under |
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Chapter 1372; |
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(2) is allocated housing tax credits under Subchapter |
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DD; or |
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(3) receives a property tax exemption in accordance |
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with Section 303.042, Local Government Code. |
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(b) Not later than January 1 of each year, each political |
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subdivision that contains in the political subdivision's |
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boundaries a multifamily residential development to which this |
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section applies shall submit to the department a report that |
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contains: |
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(1) a list of each of those developments that, during |
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the preceding year, were: |
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(A) in operation and receiving the benefits |
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described by Subsection (a); or |
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(B) being constructed or rehabilitated; and |
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(2) for each development described by Subdivision (1): |
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(A) the name of the developer; |
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(B) the appraised or estimated value; |
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(C) the length of the term for which the |
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development was awarded the benefit described by Subsection (a); |
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and |
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(D) any other information the department |
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requires. |
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(c) The department shall implement a publicly accessible |
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database that includes: |
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(1) the name of each political subdivision that |
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submits a report under Subsection (b); and |
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(2) the information included in each report, |
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aggregated by political subdivision. |
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(d) The department shall maintain information in the |
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database implemented under Subsection (c) for each multifamily |
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residential development included in a report under Subsection (b) |
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for not less than two years after the date the development's |
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benefits described by Subsection (a) have ended. |
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(e) Not later than March 1 of each year, the department |
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shall prepare and submit to the legislature a written report that |
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contains the information contained in the database implemented |
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under Subsection (c). |
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SECTION 2. This Act takes effect September 1, 2025. |