1-1 By: Duncan S.B. No. 1013
1-2 (In the Senate - Filed March 8, 1999; March 10, 1999, read
1-3 first time and referred to Committee on Intergovernmental
1-4 Relations; April 6, 1999, reported favorably by the following vote:
1-5 Yeas 5, Nays 0; April 6, 1999, sent to printer.)
1-6 A BILL TO BE ENTITLED
1-7 AN ACT
1-8 relating to increasing the flexibility in the types of projects
1-9 which housing finance corporations may finance.
1-10 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-11 SECTION 1. Subdivision (13), Section 394.003, Local
1-12 Government Code, is amended to read as follows:
1-13 (13) "Residential development" means the acquisition,
1-14 construction, reconstruction, rehabilitation, repair, alteration,
1-15 improvement, or extension of any of the following items or any
1-16 combination of the following items for the purpose of providing
1-17 decent, safe, and sanitary housing and nonhousing facilities that
1-18 are an integral part of or are functionally related to any
1-19 affordable [the] housing project, whether in one or multiple
1-20 locations:
1-21 (A) land, an interest in land, a building or
1-22 other structure, facility, system, fixture, improvement, addition,
1-23 appurtenance, or machinery or other equipment;
1-24 (B) real or personal property considered
1-25 necessary in connection with an item described by Paragraph (A); or
1-26 (C) real or personal property or improvements
1-27 functionally related and subordinate to an item described by
1-28 Paragraph (A).
1-29 SECTION 2. This Act takes effect September 1, 1999.
1-30 SECTION 3. The importance of this legislation and the
1-31 crowded condition of the calendars in both houses create an
1-32 emergency and an imperative public necessity that the
1-33 constitutional rule requiring bills to be read on three several
1-34 days in each house be suspended, and this rule is hereby suspended.
1-35 * * * * *