Texas 2019 - 86th Regular

Texas Senate Bill SB1129 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1	1		By: West S.B. No. 1129
	2	+	(In the Senate - Filed February 26, 2019; March 7, 2019,
	3	+	read first time and referred to Committee on Intergovernmental
	4	+	Relations; April 15, 2019, reported adversely, with favorable
	5	+	Committee Substitute by the following vote: Yeas 7, Nays 0;
	6	+	April 15, 2019, sent to printer.)
	7	+	Click here to see the committee vote
	8	+	COMMITTEE SUBSTITUTE FOR S.B. No. 1129 By: Menéndez
2	9
3	10
4	11		A BILL TO BE ENTITLED
5	12		AN ACT
6	13		relating to the operation of certain urban land bank demonstration
7	14		programs.
8	15		BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
9	16		SECTION 1. Sections 379C.009(b), (b-1), and (b-2), Local
10	17		Government Code, are amended to read as follows:
11	18		(b) Except as provided by Subsection (b-1), the land bank
12	19		must sell a property to a qualified participating developer within
13	20		the eight-year [four-year] period following the date of acquisition
14	21		for the purpose of construction of affordable housing for sale or
15	22		rent to low income households.
16	23		(b-1) Before the completion of the eight-year [four-year]
17	24		period described by Subsection (b), the land bank may, subject to
18	25		Section 379C.0106:
19	26		(1) transfer property that the land bank determines is
20	27		not appropriate for residential development to the taxing units
21	28		described by Subsection (b-2) [(b)]; or
22	29		(2) sell property described by Subdivision (1) to a
23	30		political subdivision or a nonprofit organization.
24	31		(b-2) If after eight [four] years a qualified participating
25	32		developer has not purchased the property, the property shall be
26	33		transferred from the land bank to the taxing units who were parties
27	34		to the judgment for disposition as otherwise allowed under the law.
28	35		SECTION 2. Section 379C.010(c), Local Government Code, is
29	36		amended to read as follows:
30	37		(c) If property is developed for rental housing, the deed
31	38		restrictions must be for a period of not less than 15 years and must
32	39		require that:
33	40		(1) 40 [100] percent of the rental units be occupied by
34	41		households with incomes not greater than 60 percent of area median
35	42		family income, based on gross household income, adjusted for
36	43		household size, for the metropolitan statistical area in which the
37	44		municipality is located, as determined annually by the United
38	45		States Department of Housing and Urban Development;
39	46		(2) 30 [40] percent of the units be occupied by
40	47		households with incomes not greater than 50 percent of area median
41	48		family income, based on gross household income, adjusted for
42	49		household size, for the metropolitan statistical area in which the
43	50		municipality is located, as determined annually by the United
44	51		States Department of Housing and Urban Development; or
45	52		(3) 20 percent of the units be occupied by households
46	53		with incomes not greater than 30 percent of area median family
47	54		income, based on gross household income, adjusted for household
48	55		size, for the metropolitan statistical area in which the
49	56		municipality is located, as determined annually by the United
50	57		States Department of Housing and Urban Development.
51	58		SECTION 3. Section 379C.014(c), Local Government Code, is
52	59		amended to read as follows:
53	60		(c) A sale under this section within the eight-year
54	61		[four-year] period following the date of acquisition of the
55	62		property by the land bank is for a public purpose and satisfies the
56	63		requirement under Section 379C.009(b) that the property be sold
57	64		within the eight-year [four-year] period to a qualified
58	65		participating developer.
59	66		SECTION 4. Chapter 379C, Local Government Code, is amended
60	67		by adding Section 379C.016 to read as follows:
61	68		Sec. 379C.016. ALLOCATION AND USE OF AD VALOREM TAXES
62	69		COLLECTED ON PROPERTY DEVELOPED UNDER PROGRAM. An interlocal
63	70		agreement under Section 379C.008(a)(4) may provide that, for the
64	71		first five calendar years occurring after the date of completion of
65	72		the development of a property acquired by a qualified participating
66	73		developer under this chapter, 50 percent of the ad valorem taxes
67	74		collected on the property must be deposited to the credit of the
68	75		land bank for the use of the program.
69	76		SECTION 5. Section 379C.010(c), Local Government Code, as
70	77		amended by this Act, applies only to property purchased from a land
71	78		bank by a qualified participating developer on or after the
72	79		effective date of this Act.
73	80		SECTION 6. This Act takes effect September 1, 2019.
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