Texas Senate Bill SB1753

Texas 2021 - 87th Regular

Caption

Relating to low income housing tax credits administered by the Texas Department of Housing and Community Affairs.

Impact

The bill has the potential to significantly impact state laws regarding affordable housing by mandating the Department of Housing to take proactive measures in preserving low income housing options. This includes the formulation of marketing strategies that are aimed at attracting qualified entities to commit to maintaining affordable housing, continually enhancing the management of county-level housing projects, and ensuring transparency in the allocation processes related to tax credits. These measures are viewed as crucial in mitigating the risk of housing losses, especially as more properties approach the end of their affordability periods.

Summary

SB1753 aims to amend the regulations concerning low income housing tax credits as administered by the Texas Department of Housing and Community Affairs. The proposed changes focus on introducing policies that maintain data on housing projected to lose its affordable status and developing strategies to ensure that affordable housing is preserved throughout the state. One of the significant aspects of the bill is the creation of a comprehensive preservation strategy, which includes identifying developments at risk of withdrawal from the low income housing tax credit program over a set timeframe and establishing prioritization for preservation efforts.

Contention

There are notable points of contention surrounding SB1753, particularly regarding the balance of state versus local control over housing policies. Supporters may argue that the centralization of authority within the Texas Department of Housing is necessary for an effective state-wide response to housing needs, while critics may express concern that such a move could limit local governments' ability to address specific community needs. Additionally, the success of the bill hinges on the availability of funds appropriated by the legislature, potentially leading to debates on budget allocation and fiscal priorities for housing initiatives.