Texas 2017 - 85th Regular

Texas Senate Bill SB1931

Caption

Relating to community land trusts.

Impact

The impact of SB1931 on state laws is significant, as it creates a framework that directly influences how affordable housing is developed and maintained. One of the key amendments within the bill requires property appraisers to use a specific method when assessing homes that are part of a community land trust. This method considers the income limitations of the tenants, ensuring that the properties remain affordable. Additionally, it defines how long a property must stay under certain restrictions to be considered under community land trust rules, thus protecting the long-term affordability of such housing options.

Summary

SB1931 focuses on enhancing the capabilities of community land trusts in Texas, organizations designed to operate as nonprofit entities that acquire and hold land for long-term affordable housing. The bill amends sections of the Local Government Code and the Tax Code to provide clearer regulations regarding the operations of community land trusts and to facilitate the appraisal process for properties leased or sold under their management. By ensuring that these organizations can maintain affordable housing options, the bill aims to address ongoing housing challenges faced by low and moderate-income families across the state.

Sentiment

The sentiment surrounding SB1931 appears generally positive, particularly among proponents of affordable housing initiatives. Supporters highlight the bill as a necessary step toward combating housing insecurity and promoting sustainable community development. However, there are concerns voiced by some stakeholders about potential inefficiencies or bureaucratic hurdles that could arise from the implementation of the new regulations, suggesting a need for ongoing oversight and adaptations as the policy evolves.

Contention

Notable points of contention related to SB1931 include concerns about the balance between regulation and the operational flexibility of community land trusts. Critics question whether the specified appraisal methods might limit the adaptability of these trusts to changing market conditions, potentially hindering their effectiveness in providing affordable housing. Additionally, the intricacies of how exemptions from property taxes are managed under the new framework raise questions regarding the financial viability of community land trusts and their long-term sustainability.

Companion Bills

No companion bills found.

Previously Filed As

TX HB2987

Relating to the exemption of tangible personal property from ad valorem taxation; making conforming changes.

TX SB1789

Relating to the exemption of tangible personal property from ad valorem taxation; making conforming changes.

TX HB2476

Relating to the adoption of a veterans' land bank program by the Texas State Affordable Housing Corporation.

TX SB1984

Relating to public-private partnerships for public and private facilities and infrastructure.

TX HB4559

Relating to the application of statutes that classify political subdivisions according to population.

TX HB2071

Relating to certain public facilities, including public facilities used to provide affordable housing.

TX SB1278

Relating to certain public facilities used to provide affordable housing.

TX HB3568

Relating to certain public facilities used to provide affordable housing; authorizing a fee; authorizing a penalty.

TX HB3336

Relating to a limitation on increases in the appraised value of commercial real property and single-family rental property for ad valorem tax purposes.

TX HB28

Relating to a limitation on increases in the appraised value of commercial real property and single-family rental property for ad valorem tax purposes.

Similar Bills

CA AB2013

Property taxation: new construction: damaged or destroyed property.

CA AB1500

Property taxation: application of base year value: disaster relief.

CA AB245

Property taxation: application of base year value: disaster relief.

DC B25-0486

Uniform Community Property Disposition at Death Act of 2023

CA SB964

Property tax: tax-defaulted property sales.

CA SB603

Property taxation: transfer of base year value: disaster relief.

CA SB1091

Property taxation: transfer of base year value: disaster relief.

HI HB1398

Relating To Property.