BILL ANALYSIS
Senate Research Center S.B. 723
79R5621 QS-D By: Lucio
AUTHOR'S/SPONSOR'S STATEMENT OF INTENT
As proposed, 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
SECTION BY SECTION ANALYSIS
SECTION 1. Amends Subchapter K, Chapter 2306, Government Code, by adding Section 2306.260, as follows:
Sec. 2306.260. STUDY REGARDING AFFORDABLE HOUSING NEEDS AND FUNDING. Requires the Texas Department of Housing and Community Affairs (department) 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 specializing in affordable housing or economic development research to conduct the study on the department's behalf. Requires the department 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. Provides that this section expires February 1, 2007.
SECTION 2. Amends Section 1372.006, Government Code, by adding Subsection (a-1), as follows:
(a-1) Authorizes 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.
SECTION 3. Effective date: upon passage or September 1, 2005.