By Dukes H.B. No. 3538
Line and page numbers may not match official copy.
Bill not drafted by TLC or Senate E&E.
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to criteria for financing housing development of housing
1-3 sponsor.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 2306.223. Criteria for Financing Housing
1-6 Development of Housing Sponsor, is amended to read as follows:
1-7 Notwithstanding any other provision of this chapter, the
1-8 department may not finance a housing development undertaken by a
1-9 housing sponsor under this chapter, unless the department first
1-10 determines that:
1-11 (1) the housing development is necessary to provide
1-12 needed decent, safe, and sanitary housing at rentals or prices that
1-13 individuals or families of low and very low income or families of
1-14 moderate income can afford;
1-15 (2) the housing sponsor undertaking the proposed
1-16 housing development will supply well-planned and well-designed
1-17 housing for individuals or families of low and very low income or
1-18 families of moderate income;
1-19 (3) the housing sponsor is financially responsible;
1-20 (4) the housing sponsor is not or will not utilize a
1-21 housing developer which has:
1-22 (A) breached a contract with a local or quasi
1-23 governmental entities in Texas including but not limited to cities
2-1 counties, housing authorities, transportation authorities, river
2-2 authorities or other similar public purpose entities; and
2-3 (B) misrepresented to subcontractors as to the
2-4 amount and scope of their participation in previous awards made by
2-5 the State, local or quasi governmental entities in Texas or other
2-6 entities under subsection 4(a).
2-7 [(4)] (5) the financing of the housing development is
2-8 a public purpose and will provide a public benefit; and
2-9 [(5)] (6) the housing development will be undertaken
2-10 within the authority granted by this chapter to the housing finance
2-11 division and the housing sponsor.
2-12 SECTION 2. This Act takes effect September 1, 2001.