Enrolled Bill Summary

Enrolled Bill Summary

Legislative Session: 88(R)

House Bill 2071	House Author: Jetton, Jacey et al.
Effective: 6-18-23	Senate Sponsor: Bettencourt

House Bill 2071 amends the Local Government Code to revise the Public Facility Corporation Act with respect to multifamily residential developments that provide affordable housing. Among other provisions, the bill authorizes a public facility corporation (PFC) or their sponsor to finance, own, or operate a multifamily residential development under specific conditions and provides for the eligibility of such a development for the PFC tax exemption, including additional requirements for beneficial tax treatment and allocations of lower and moderate income housing units. The bill provides for a compliance audit of the public facility user of a development claiming the exemption and provides for a study by the Legislative Budget Board of the long‑term effects on the state's funding and revenue of property and sales tax exemptions for multifamily housing developments.