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A BILL TO BE ENTITLED
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AN ACT
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relating to the urban land bank demonstration program in certain |
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municipalities. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 379C.005, Local Government Code, is |
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amended to read as follows: |
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Sec. 379C.005. QUALIFIED PARTICIPATING DEVELOPER. To |
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qualify to participate in an urban land bank demonstration program, |
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a developer must: |
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(1) have built one [three] or more housing units |
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within the three-year period preceding the submission of a proposal |
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to the land bank seeking to acquire real property from the land |
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bank; |
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(2) have a development plan approved by the |
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municipality for the land bank property; and |
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(3) meet any other requirements adopted by the |
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municipality in the urban land bank demonstration plan. |
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SECTION 2. Section 379C.009, Local Government Code, is |
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amended by amending Subsection (b) and adding Subsections (b-1) and |
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(b-2) to read as follows: |
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(b) Except as provided by Subsection (b-1), the [The] land |
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bank must sell a property to a qualified participating developer |
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within the four-year period following the date of acquisition for |
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the purpose of construction of affordable housing for sale or rent |
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to low income households. |
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(b-1) Before the completion of the four-year period |
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described by Subsection (b), the land bank may, subject to Section |
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379C.0106: |
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(1) transfer property that the land bank determines is |
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not appropriate for residential development to the taxing units |
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described by Subsection (b); or |
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(2) sell property described by Subdivision (1) to a |
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political subdivision or a nonprofit organization. |
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(b-2) If after four years a qualified participating |
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developer has not purchased the property, the property shall be |
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transferred from the land bank to the taxing units who were parties |
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to the judgment for disposition as otherwise allowed under the law. |
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SECTION 3. Section 379C.0106(a), Local Government Code, is |
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amended to read as follows: |
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(a) In this section, "eligible adjacent property owner" |
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means a person who: |
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(1) owns property located adjacent to property owned |
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by the land bank; and |
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(2) [has owned the adjacent property and continuously
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occupied that property as a primary residence for the two-year
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period preceding the date of the sale; and
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[(3)] satisfies eligibility requirements adopted by |
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the land bank. |
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SECTION 4. This Act takes effect September 1, 2013. |