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79R6164 QS-D

By:  Riddle                                                       H.B. No. 1506



A BILL TO BE ENTITLED

AN ACT

relating to community support for applications for the issuance of 
multifamily housing bonds by housing finance corporations.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:                        
	SECTION 1.  Section 394.9025, Local Government Code, is 
amended by adding Subsection (c) to read as follows:
	(c)  An applicant for the issuance of bonds to finance a 
multifamily residential development under this chapter must 
provide the housing finance corporation with evidence, not later 
than the 14th day after the date the application is filed, that the 
applicant has notified the following persons with respect to the 
filing of the application:
		(1)  each member of the legislature who represents the 
community containing the development described in the application; 
and
		(2)  each member of the legislature who represents a 
community located at least in part within a five-mile radius of the 
community containing the development.
	SECTION 2.  The change in law made by this Act applies only 
to an application submitted to a housing finance corporation on or 
after the effective date of this Act.  An application submitted 
before the effective date of this Act is governed by the law in 
effect on the date the application was submitted, and the former law 
is continued in effect for that purpose.
	SECTION 3.  This Act takes effect September 1, 2005.