By Dukes H.B. No. 2684 75R8791 JD-D A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to the appraisal of real property that is used to provide 1-3 affordable housing. 1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-5 SECTION 1. Subchapter B, Chapter 23, Tax Code, is amended by 1-6 adding Section 23.21 to read as follows: 1-7 Sec. 23.21. PROPERTY USED TO PROVIDE AFFORDABLE HOUSING. In 1-8 appraising real property that is rented or leased to a low-income 1-9 individual or family meeting income-eligibility standards 1-10 established by the owner of the property under regulations or 1-11 restrictions limiting the amount that the individual or family may 1-12 be required to pay for the rental or lease of the property, the 1-13 chief appraiser shall take into account the extent to which that 1-14 use and limitation reduce the market value of the property. 1-15 SECTION 2. This Act takes effect January 1, 1998. 1-16 SECTION 3. The importance of this legislation and the 1-17 crowded condition of the calendars in both houses create an 1-18 emergency and an imperative public necessity that the 1-19 constitutional rule requiring bills to be read on three several 1-20 days in each house be suspended, and this rule is hereby suspended.