By: Duncan S.B. No. 1013
A BILL TO BE ENTITLED
AN ACT
1-1 relating to increasing the flexibility in the types of projects
1-2 which housing finance corporations may finance.
1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-4 SECTION 1. Subdivision (13), Section 394.003, Local
1-5 Government Code, is amended to read as follows:
1-6 (13) "Residential development" means the acquisition,
1-7 construction, reconstruction, rehabilitation, repair, alteration,
1-8 improvement, or extension of any of the following items or any
1-9 combination of the following items for the purpose of providing
1-10 decent, safe, and sanitary housing and nonhousing facilities that
1-11 are an integral part of or are functionally related to any
1-12 affordable [the] housing project, whether in one or multiple
1-13 locations:
1-14 (A) land, an interest in land, a building or
1-15 other structure, facility, system, fixture, improvement, addition,
1-16 appurtenance, or machinery or other equipment;
1-17 (B) real or personal property considered
1-18 necessary in connection with an item described by Paragraph (A); or
1-19 (C) real or personal property or improvements
1-20 functionally related and subordinate to an item described by
1-21 Paragraph (A).
1-22 SECTION 2. This Act takes effect September 1, 1999.
1-23 SECTION 3. The importance of this legislation and the
1-24 crowded condition of the calendars in both houses create an
2-1 emergency and an imperative public necessity that the
2-2 constitutional rule requiring bills to be read on three several
2-3 days in each house be suspended, and this rule is hereby suspended.