Texas 2021 - 87th Regular

Texas Senate Bill SB113

Caption

Relating to community land trusts.

Impact

The bill introduces specific appraisal procedures for properties owned by community land trusts. It mandates that property appraisals for land leased by these trusts consider income-based evaluations, rather than conventional market values. This approach aims to reflect the realities of affordability and the restrictions tied to the properties, which could help maintain or lower housing costs for low-income families. The measures outlined in SB113 seek to alleviate issues of gentrification and displacement in areas experiencing rapid development.

Summary

Senate Bill 113 (SB113) aims to enhance the establishment and operation of community land trusts in Texas. The legislation amends the Local Government Code to define community land trusts as nonprofit organizations that acquire and hold land to develop and preserve long-term affordable housing. It is intended to support initiatives that ensure more equitable access to housing, particularly for families meeting certain income eligibility standards. By empowering these entities, the bill is designed to foster affordable housing solutions within municipalities and counties in the state.

Sentiment

General sentiment surrounding SB113 is comparatively supportive within legislative circles, especially among those advocating for affordable housing. Proponents argue that by formalizing the role of community land trusts, the bill can lead to more sustainable and long-lasting solutions for housing insecurity. However, there may be skepticism from some stakeholders about the potential effectiveness of community land trusts in broader economic terms, particularly concerning property tax revenues and municipal funding.

Contention

Notable points of contention include concerns regarding whether community land trusts will be effective in achieving their goals of affordability and sustainability. Some opponents question whether the restrictions imposed on income-eligible families could hamper property values over time or limit market participation. Moreover, the changes to property appraisal methods raise fears that local municipalities could face financial challenges without adequate tax revenue from these lands. Thus, the ongoing discourse reflects a balance between promoting affordable housing and sustaining local economies.

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 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.

TX HB30

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 HB4559

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

TX HB3568

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

TX HB2071

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

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