Texas House Bill HB741

Texas 2011 - 82nd Regular

• Out of House Committee: 5/4/11
• Introduced: 1/20/11
• Refer: 2/22/11
• Report Pass: 5/2/11

Caption

Relating to criteria for financing certain multifamily housing developments.

Impact

If enacted, HB741 will significantly influence how multifamily housing projects are financed in Texas. By establishing stricter criteria for financing, the bill aims to guarantee that only reputable and responsible housing sponsors can receive funding support for new housing developments. This is particularly relevant for projects designed to assist low-income families, as it is meant to ensure that those who require affordable housing will have access while preventing potential financial mismanagement by developers.

Summary

House Bill 741 seeks to amend the criteria under which the Texas Department of Housing and Community Affairs can finance certain multifamily housing developments. The main focus of this bill is to ensure that housing developments serve low and very low-income families and moderate-income families, thereby addressing ongoing housing affordability issues in the state. Additionally, it introduces specific regulations regarding the qualifications of housing sponsors, emphasizing the need for financial responsibility and adherence to public contracting standards.

Contention

One of the notable points of contention surrounding HB741 relates to its implications for local school districts, particularly small districts with specific limitations on the number of new housing units. The bill stipulates that new projects within small school districts should not exceed a density of 60 units per square mile. This could restrict development options in areas that might otherwise benefit from increased residential capacity. Critics may argue that this could hinder necessary development in areas where families are most in need of affordable housing solutions.