By Gallego H.B. No. 3081 A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to the provision of multifamily residential development 1-3 units by local governments for occupancy by individuals and 1-4 families of low and very low income. 1-5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-6 SECTION 1. Subchapter 2, Chapter 394, Local Government Code, 1-7 is amended by adding Section 394.908 to read as follows: 1-8 Sec. 394.908. Housing for Individuals and Families of Low 1-9 and Very Low Income. The housing finance corporation shall provide 1-10 for collection of an annual fee equal to $10 per month per unit for 1-11 each unit in a multifamily residential development built, renovated 1-12 or refinanced under any provision of this chapter if the 1-13 multifamily residential development: (1) contains at least 50 1-14 units; and (2) is financed or refinanced in whole or in part under 1-15 any provision of this chapter on or after the effective date of 1-16 this Act. The corporation shall require by contract that the 1-17 developer of the multifamily residential development pay such fee 1-18 annually to the Texas Department of Housing and Community affairs 1-19 for deposit into the Housing Trust Fund established under Section 1-20 2306.201, Texas Government Code. The department shall deposit all 1-21 funds received under this subsection to the credit of the Housing 1-22 Trust Fund to be used to provide housing for individuals and 1-23 families of low and very low income. 2-1 (c) The governing body of the local government that 2-2 authorizes, sponsors, or otherwise participates in the creation of 2-3 the housing finance corporation shall cooperate with the Texas 2-4 Department of Housing and Community Affairs to implement this 2-5 section and shall submit to the department an annual report 2-6 relating to the number of developments financed or refinanced under 2-7 this chapter, the number of units reserved in accordance with this 2-8 section for individuals and families of low and very low income, 2-9 the amount of fees contracted for, and other information required 2-10 by the department. 2-11 SECTION 2. The importance of this legislation and the 2-12 crowded condition of the calendars in both houses create an 2-13 emergency and an imperative public necessity that the 2-14 constitutional rule requiring bills to be read on three several 2-15 days in each house be suspended, and this rule is hereby suspended, 2-16 and that this Act take effect and be in force from and after its 2-17 passage, and it is so enacted.