LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 89TH LEGISLATIVE REGULAR SESSION

April 4, 2025

TO:	Honorable Cole Hefner, Chair, House Committee on Homeland Security, Public Safety & Veterans' Affairs
FROM:	Jerry McGinty, Director, Legislative Budget Board
IN RE:	HB1608 by Garcia, Josey (Relating to the adoption of a veterans' land bank program by the Texas State Affordable Housing Corporation.), As Introduced

No significant fiscal implication to the State is anticipated.

The bill would require the Texas State Affordable Housing Corporation to establish a veterans' land bank program for the purpose of acquiring, holding, and transferring real property to provide affordable housing for veterans who are members of low-income households. The bill would exempt from taxation certain property owned by a charitable organization engaged exclusively in acquiring, holding, and transferring unimproved real property under a veterans' land bank program as or on behalf of the corporation. 

The Texas State Affordable Housing Corporation is a 501(c)(3) nonprofit organization created at the direction of the Legislature to serve as a self-sustaining, statewide affordable housing provider.

It is assumed that any costs and revenue implications associated with the bill would be insignificant.

Local Government Impact

No significant fiscal implication to units of local government is anticipated.

Source Agencies:

304 Comptroller of Public Accounts

LBB Staff:

JMc, MGol, BC, CMA