Relating to the administration by the General Land Office of money allocated to this state from the national Housing Trust Fund.
Impact
By mandating the GLO to develop rules and an allocation plan, SB1730 seeks not only to enhance the distribution process but also to ensure alignment with federal guidelines and state priorities. The allocation plan must include a competitive process for distributing funds and ensure that rent and utility costs do not exceed 30 percent of a resident's income, ultimately promoting long-term affordability in housing.
Summary
SB1730 aims to establish a framework for the administration of funds received by Texas from the National Housing Trust Fund. The bill articulates the responsibilities of the General Land Office (GLO) in distributing these funds, specifically targeting individuals and families categorized as extremely low income and very low income. The intent is to create a structured program that ensures the money is allocated effectively and reaches the individuals and families that need it the most.
Contention
While the bill has been generally well received by advocates of affordable housing, some concerns may arise regarding the implementation of eligibility criteria and the prioritization of projects. This could lead to debate over how effectively the GLO can manage the allocation process and whether the established rules will adequately serve the varying needs across different regions in Texas.
Relating to the administration and investment of, and distribution and use of money from, certain constitutional and statutory funds to support general academic teaching institutions in achieving national prominence as major research universities and driving the state economy; redesignating the national research university fund as the Texas University Fund.
Relating to the administration and investment of, and distribution and use of money from, certain constitutional and statutory funds to support general academic teaching institutions in achieving national prominence as major research universities and driving the state economy.
Relating to the establishment of the workforce housing capital investment fund program to fund the development of workforce housing in this state; authorizing a fee.
Relating to the establishment of the workforce housing capital investment fund program to fund the development of workforce housing in this state; authorizing a fee.
Relating to the issuance by the Texas Department of Housing and Community Affairs of certain federal forms for purposes of allocating low income housing tax credits; authorizing an administrative penalty.
Relating to the issuance by the Texas Department of Housing and Community Affairs of certain federal forms for purposes of allocating low income housing tax credits; authorizing an administrative penalty.