BILL ANALYSIS
By: Lucio
BACKGROUND AND PURPOSE
Housing resources in the State of Texas are often scarce. These scarce resources should be used most effectively and efficiently to provide affordable housing in Texas.
S.B. 723 requires the Texas Department of Housing and Community Affairs to conduct a study on the affordable housing needs in the state, potential revenue sources that can be dedicated for the State Housing Trust Fund, and the economic development impact of having a dedicated source of revenue in the state for affordable housing.
RULEMAKING AUTHORITY
It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.
ANALYSIS
S.B. 723 Requires the Texas Department of Housing and Community Affairs to conduct a study of affordable housing needs and potential revenue sources for affordable housing in this state. Sets forth what is required to be included in the study and in the evaluation of potential revenue sources. Authorizes the department to contract with an appropriate independent organization and institutions of higher education specializing in affordable housing or economic development research to conduct the study on the department's behalf and to report to certain elected officials on the study and its results not later than September 1, 2006. Authorizes the department or appropriate independent organization to use money available under Section 1372.006(a-1) (Fees), Government Code, and to seek and accept grants or donations. Provides that this section expires February 1, 2007.
The bill adds Section 1372.006(a-1), Government Code authorizing money transferred to the department, in addition to being used in the affordable housing research and information program, to be used by the department to conduct the study regarding affordable housing needs and funding, as provided by Section 2306.260. Provides that this subsection expires February 1, 2007.
EFFECTIVE DATE
This Act takes effect September 1, 2005 or immediately if it receives a vote of two-thirds of all the members elected to each house, as provided by Section 39, Article III, Texas Constitution.