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.