HBA-TYH S.B. 1013 76(R) BILL ANALYSIS Office of House Bill AnalysisS.B. 1013 By: Duncan Urban Affairs 4/21/1999 Engrossed BACKGROUND AND PURPOSE Currently, Texas law allows housing finance corporations to issue only mortgage revenue bonds or bonds to finance "residential development." The attorney general's office is trying to develop a policy as to the intended meaning of residential development. S.B. 1013 extends the definition of "residential development" to include any affordable housing project, either in one or multiple locations. This would increase the flexibility in the types of projects which housing finance corporations may finance. RULEMAKING AUTHORITY It is the opinion of the Office of House Bill Analysis that this bill does not expressly delegate any additional rulemaking authority to a state officer, department, agency, or institution. SECTION BY SECTION ANALYSIS SECTION 1. Amends Section 394.003(13), Local Government Code, to extend the definition of "residential development" by specifying that its purpose is to provide decent, safe, and sanitary housing and nonhousing facilities that are an integral part of any affordable housing project, whether in one or multiple locations. Makes a conforming change. SECTION 2. Effective date: September 1, 1999. SECTION 3. Emergency clause.