Texas House Bill HB834

Texas 2019 - 86th Regular

Caption

Relating to the authority of a county to adopt a land bank program.

Impact

The enactment of HB 834 is projected to significantly impact local housing markets by providing counties with the tools needed to effectively manage vacant or underutilized properties. This measure is expected to incentivize the production of affordable housing, particularly for low-income households, by allowing properties acquired through tax lien foreclosures to be sold at lower prices for development. The bill requires that at least a portion of the housing produced through these programs remain affordable to target income groups for a specified period of time, potentially leading to increased housing stability for vulnerable populations.

Summary

House Bill 834 seeks to empower counties in Texas to establish land bank programs aimed at facilitating affordable housing development. The bill allows the governing bodies of counties to adopt such programs through the creation of land banks, which are entities involved in acquiring, holding, and transferring unimproved real property. The bill defines key terms and establishes the criteria under which counties may operate these land banks and engage with qualified participating developers for the purpose of affordable housing construction and development.

Contention

Supporters of the bill argue that it will help address the ongoing crisis of affordable housing in Texas by utilizing available resources in a direct and efficient manner. However, there may be concerns regarding local autonomy, as the establishment of land banks could shift some control over housing policies from municipalities to the county level. Critics might also express caution regarding the long-term sustainability of the programs, as they rely on the effective management and oversight of the land banks to ensure that developers meet the affordability requirements set forth in the bill. Overall, the success of HB 834 will depend on the commitment of counties to implement the land bank programs diligently and transparently.