86R11576 JAM-F
By: Flynn H.B. No. 1716
A BILL TO BE ENTITLED
AN ACT
relating to certain public facilities financed, owned, and operated
by a public facility corporation.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 303.021, Local Government Code, is
amended by adding Subsection (c) to read as follows:
(c) This chapter expressly authorizes a sponsor to which
Section 303.042(d) does not apply to create a corporation to
finance, own, and operate a multifamily residential development
that meets the requirements of Section 303.042(d-1).
SECTION 2. Section 303.042, Local Government Code, is
amended by adding Subsections (d-1) and (g) to read as follows:
(d-1) An exemption under this section for a multifamily
residential development that is owned by a corporation created
under this chapter and that is not otherwise described by
Subsection (d) applies only if the development meets the
requirements of Subsection (d)(2) or accomplishes a governmental
purpose of the sponsor.
(g) For purposes of Subsections (a) and (b), if a
corporation created under this chapter owns a multifamily
residential development described by Subsection (d-1), the sponsor
of the corporation is considered the user of the public facility.
SECTION 3. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2019.