S.B. No. 1861
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.
______________________________ ______________________________
President of the Senate Speaker of the House
I hereby certify that S.B. No. 1861 passed the Senate on
April 17, 2019, by the following vote: Yeas 31, Nays 0.
______________________________
Secretary of the Senate
I hereby certify that S.B. No. 1861 passed the House on
May 21, 2019, by the following vote: Yeas 101, Nays 44, one
present not voting.
______________________________
Chief Clerk of the House
Approved:
______________________________
Date
______________________________
Governor