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Amend CSHB 2071 (house committee report) as follows:
(1) On page 2, lines 3 and 4, strike "(a), (c), and (d)" and substitute "(a), (c), (d), and (g)".
(2) On page 3, between lines 7 and 8, insert the following:
(g) This subsection and Subsection (f) expire December 31, 2025.
(3) On page 5, line 23, strike "Section 303.0425" and substitute "Sections 303.0425 and 303.0426".
(4) On page 12, between lines 17 and 18, insert the following:
Sec. 303.0426. STUDY OF TAX EXEMPTIONS FOR MULTIFAMILY RESIDENTIAL DEVELOPMENTS OWNED BY PUBLIC FACILITY CORPORATIONS. (a) In this section, "board" means the Legislative Budget Board.
(b) The board shall conduct a study that assesses the long-term effects on the state's funding and revenue, including funding for public education, of ad valorem tax exemptions and sales and use tax exemptions for multifamily housing developments under Sections 303.042(c) and 303.0421(f).
(c) Not later than December 10, 2024, the board shall submit to the governor, the lieutenant governor, and the speaker of the house of representatives a report on the results of the study. The report must include an estimate of:
(1) the funding or revenue that the state has lost as a result of the exemptions; and
(2) the potential increase in funding or revenue that would result from the repeal of the exemptions.
(d) The board may delegate any authority granted to the board under this section that the board determines is necessary to conduct the study under this section.
(e) This section expires January 1, 2025.
(5) On page 14, between lines 25 and 26, insert the following:
(e) Section 303.0421(g), Local Government Code, as added by this Act, does not affect a tax exemption available to a multifamily residential development under Section 303.0421(f), Local Government Code, as amended by this Act, immediately before December 31, 2025. A tax exemption available to a multifamily residential development under Section 303.0421(f), Local Government Code, immediately before that date is covered by the law in effect when the development qualified for the exemption, and that law is continued in effect for that purpose.