Amend CSHB 2577 by adding the following section to the bill,
appropriately numbered, and renumbering subsequent sections of the
bill accordingly:
      SECTION __.  Effective January 1, 1998, Subchapter B, Chapter
23, Tax Code, is amended by adding Section 23.21 to read as
follows:
      Sec. 23.21.  PROPERTY USED TO PROVIDE AFFORDABLE HOUSING.  In
appraising real property that is rented or leased to a low-income
individual or family meeting income-eligibility standards
established by the owner of the property under regulations or
restrictions limiting to a percentage of the individual's or the
family's income the amount that the individual or family may be
required to pay for the rental or lease of the property, the chief
appraiser shall take into account the extent to which that use and
limitation reduce the market value of the property.