Relating to the continuation and functions of the Texas State Affordable Housing Corporation; providing penalties.
Impact
The bill imposes strict compliance measures on housing sponsors receiving bond financing for affordable multifamily housing. This includes provisions that allow the corporation to assess penalties for non-compliance, appoint receivers, or implement necessary changes in management, ensuring that properties meet regulatory standards. Overall, SB649 seeks to strengthen accountability within the housing sector and improve the overall integrity of housing programs facilitated by the corporation.
Summary
SB649 focuses on the continuation and operational framework of the Texas State Affordable Housing Corporation. This bill aims to amend several sections of the Government Code to ensure the corporation is not abolished and continues to serve its mandate effectively. The legislation includes provisions that modify the composition of the board of directors, ensuring diverse representation from various sectors associated with housing and mortgage services, and it emphasizes necessary training for members regarding relevant laws and ethical standards.
Contention
Notable points of contention around SB649 revolve around its potential implications for local governance and the housing market. Critics may argue that while the bill aims to enhance oversight, it could also centralize too much control within the state, limiting local autonomy in managing affordable housing initiatives. Moreover, some stakeholders might express concerns about how penalties could affect housing sponsors, potentially discouraging participation in affordable housing programs, which could inadvertently exacerbate housing shortages.
Identical
Relating to the continuation and functions of the Texas State Affordable Housing Corporation and to the appointment of commissioners of a municipal housing authority; providing penalties.
Relating to the functions of the Texas Water Development Board and continuation and functions of the State Water Implementation Fund for Texas Advisory Committee.
Relating to the functions of the Texas Water Development Board and continuation and functions of the State Water Implementation Fund for Texas Advisory Committee.