By Ellis S.B. No. 631
74R5558 LJR-D
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the duties of housing finance corporations.
1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-4 SECTION 1. Section 394.023(b), Local Government Code, is
1-5 amended to read as follows:
1-6 (b) If the board of directors determines that sufficient
1-7 provision has been made for full payment of the expenses, bonds,
1-8 and other obligations of the corporation, any net corporate
1-9 earnings accruing after the determination shall be paid to the
1-10 local government. The local government may use amounts received
1-11 under this subsection only to provide for the housing needs of
1-12 individuals and families with incomes of less than 60 percent of
1-13 the local median family income as determined by the United States
1-14 Department of Housing and Urban Development and adjusted for size
1-15 of the family.
1-16 SECTION 2. Section 394.026(b), Local Government Code, is
1-17 amended to read as follows:
1-18 (b) On the filing of the certificate of dissolution, the
1-19 corporation is dissolved. The title to all funds and property
1-20 owned by the corporation at the time of dissolution vests in the
1-21 local government to be used exclusively by the local government to
1-22 provide for the housing needs of individuals and families with
1-23 incomes of less than 60 percent of the local median family income
1-24 as determined by the United States Department of Housing and Urban
2-1 Development and adjusted for size of the family. The funds and
2-2 property shall be promptly delivered to the local government.
2-3 SECTION 3. Subchapter C, Chapter 394, Local Government Code,
2-4 is amended by adding Section 394.027 to read as follows:
2-5 Sec. 394.027. ANNUAL REPORT. (a) Before January 31 of each
2-6 year a housing finance corporation shall file with the Texas
2-7 Department of Housing and Community Affairs a report in accordance
2-8 with this section. The department by rule shall prescribe the form
2-9 of the report.
2-10 (b) The report must include for all single-family home
2-11 mortgage loans made by the housing finance corporation or made as a
2-12 result of the activities of the corporation during the preceding
2-13 calendar year:
2-14 (1) the number and total face value of the loans;
2-15 (2) the location by census tracts of the homes for
2-16 which the loans were made;
2-17 (3) the race or ethnicity and family size of the
2-18 borrowers of the loans; and
2-19 (4) the income of the borrowers of the loans.
2-20 (c) The report must include for persons residing in
2-21 multifamily housing units financed by the housing finance
2-22 corporation:
2-23 (1) the incomes and family sizes of the renters;
2-24 (2) the amounts of rent charged; and
2-25 (3) the number of persons by race or ethnicity
2-26 residing in the units.
2-27 SECTION 4. Section 394.037, Local Government Code, is
3-1 amended by adding Subsection (d) to read as follows:
3-2 (d) The owner or leasing agent of a residential development
3-3 for which bond proceeds are used under Subsection (a)(1) may not
3-4 discriminate in the terms of rental or purchase of a housing unit
3-5 in the development solely because the person renting or purchasing
3-6 the housing unit is a recipient of money from a housing assistance
3-7 program, including a housing voucher or housing certificate
3-8 program, if fewer than 25 percent of the housing units in the
3-9 residential development are occupied by persons receiving money
3-10 from housing vouchers or certificates.
3-11 SECTION 5. The importance of this legislation and the
3-12 crowded condition of the calendars in both houses create an
3-13 emergency and an imperative public necessity that the
3-14 constitutional rule requiring bills to be read on three several
3-15 days in each house be suspended, and this rule is hereby suspended,
3-16 and that this Act take effect and be in force from and after its
3-17 passage, and it is so enacted.