BILL ANALYSIS

H.B. 2521

By: Springer

Urban Affairs

Committee Report (Unamended)

BACKGROUND AND PURPOSE

Type B economic development corporations serve municipalities of all sizes, and interested parties have raised concerns regarding the current limitation of such corporations to undertake only affordable housing projects, as some areas are faced with a deficit of middle income housing and a surplus of affordable housing.  H.B. 2521 seeks to amend the applicable laws to allow Type B economic development corporations to attract both affordable housing and non-affordable housing projects depending on the needs of the municipality that they serve.

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

H.B. 2521 amends the Local Government Code to expand the definition of "project," for purposes of statutes relating to authorized projects of a Type B economic development corporation, to include land, buildings, equipment, facilities, and improvements found by the corporation's board of directors to be required or suitable for the promotion of development and expansion of housing generally, rather than only affordable housing as described by federal law.

EFFECTIVE DATE

On passage, or, if the bill does not receive the necessary vote, September 1, 2013.