Relating to establishment and functions of certain urban land bank programs.
Impact
The passage of HB3491 would amend the Local Government Code, allowing for greater municipal control over land banks. It provides provisions for municipalities to enter into interlocal agreements, thereby enhancing collaborative efforts between governments. This legislation should facilitate the acquisition and management of properties that can be transformed into affordable housing options for communities in need. Furthermore, the bill includes measures for extinguishing delinquent property taxes owed on properties when they are disposed of by land banks, incentivizing the rehabilitation of these properties.
Summary
House Bill 3491 establishes and reformulates certain urban land bank programs in Texas. The proposed legislation allows municipalities to adopt urban land bank programs which enable the sale of tax-foreclosed properties by private sale specifically aimed at promoting affordable housing development. The bill modifies existing codes to streamline the process, allowing more flexibility for municipalities to manage and utilize land banks effectively in addressing housing needs. By doing this, HB3491 aims to encourage local governments to tackle housing shortages while utilizing underutilized land resources held as tax liens.
Sentiment
The sentiment around the bill appears supportive among proponents who see the potential for alleviating housing crises and improving community offerings. Many advocates for affordable housing and urban development have praised the bill for providing a structured approach to developing land banks. However, there are concerns about the efficacy of the program and its potential to address housing shortages across diverse communities, especially in areas with specific housing needs or unique challenges. Critics may argue that broader systemic issues regarding affordability and urban planning remain unaddressed.
Contention
While the intent of HB3491 is generally positive, discussions around its implementation may reveal notable points of contention related to how local governments prioritize land acquisitions and the conditions under which properties are developed. The concerns may also stem from the balance between private interests and community needs, particularly regarding who benefits from these land bank programs. Additionally, there may be apprehensions about transparency and public engagement needed to ensure that the establishment of urban land banks serves the intended purpose of affordable housing development.
Relating to the exemption from ad valorem taxation of certain property owned by a charitable organization that is engaged in providing housing and related facilities and services to persons who are at least 62 years of age.
Relating to an exemption from ad valorem taxation of real property owned by a charitable organization for the purpose of renting the property at below-market rates to low-income and moderate-income households.
Relating to an exemption from ad valorem taxation of real property owned by a charitable organization for the purpose of renting the property at below-market rates to low-income and moderate-income households.
Relating to the exemption from ad valorem taxation of certain property owned by a charitable organization that is engaged in providing housing and related facilities and services to persons who are at least 62 years of age.