Texas 2023 - 88th Regular

Texas House Bill HB4958 Compare Versions

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1	1	88R12498 JAM-D
2	2	By: Goodwin H.B. No. 4958
3	3
4	4
5	5	A BILL TO BE ENTITLED
6	6	AN ACT
7	7	relating to the establishment of the workforce housing program by
8	8	the Texas Department of Housing and Community Affairs.
9	9	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
10	10	SECTION 1. Subchapter K, Chapter 2306, Government Code, is
11	11	amended by adding Section 2306.2595 to read as follows:
12	12	Sec. 2306.2595. WORKFORCE HOUSING PROGRAM. (a) In this
13	13	section:
14	14	(1) "Fund" means the workforce housing fund.
15	15	(2) "Program" means workforce housing program.
16	16	(b) The department shall establish the workforce housing
17	17	program to provide financial assistance to participating
18	18	municipalities to facilitate the construction and rehabilitation
19	19	of eligible workforce housing developments in those
20	20	municipalities. Financial assistance may be awarded from the fund
21	21	described by Subsection (e) to eligible developments in the form of
22	22	grants or low-interest loans for the purposes described by this
23	23	section and must be prorated, to the extent practicable, according
24	24	to the size of the participating municipality.
25	25	(c) To be eligible for financial assistance awarded by a
26	26	participating municipality under the program, a workforce housing
27	27	development must:
28	28	(1) consist of new construction or a substantial
29	29	rehabilitation of an existing facility;
30	30	(2) reserve a specified percentage of the units in the
31	31	development for occupancy of individuals and families earning:
32	32	(A) not less than 30 percent of the area median
33	33	income, adjusted for family size; and
34	34	(B) not more than 120 percent of the area median
35	35	income, adjusted for family size; and
36	36	(3) maintain the affordability requirements described
37	37	by Subdivision (2) for a period of not less than 20 years following
38	38	the date of receipt of financial assistance under this section.
39	39	(d) The department shall adopt rules to implement the
40	40	program, including rules that:
41	41	(1) provide criteria for determining which
42	42	municipalities may participate in the program;
43	43	(2) specify the percentage of units that a workforce
44	44	housing development must reserve to satisfy the affordability
45	45	requirements under Subsection (c)(2), to demonstrate eligibility
46	46	for financial assistance under the program; and
47	47	(3) provide a scoring system to be used by a
48	48	municipality to prioritize developments that are eligible for
49	49	financial assistance under the program.
50	50	(e) The workforce housing fund is a special account in the
51	51	state treasury. The fund consists of:
52	52	(1) money appropriated to the board for a purpose of
53	53	the fund;
54	54	(2) repayment of principal and interest from loans
55	55	made from the fund;
56	56	(3) money the board transfers to the fund from any
57	57	available source;
58	58	(4) depository interest allocable to the fund and
59	59	other investment returns on money in the fund;
60	60	(5) money from gifts, grants, or donations to the
61	61	fund; and
62	62	(6) any other fees or sources of revenue that the
63	63	legislature may dedicate for deposit to the fund.
64	64	(f) Financial assistance provided from the fund to an
65	65	eligible workforce housing development must be spent by the
66	66	recipient on the development not later than 36 months after the date
67	67	the assistance is received.
68	68	(g) Money provided from the fund that is not spent as
69	69	required by Subsection (f) must be returned to the department and
70	70	deposited to the credit of the fund.
71	71	SECTION 2. This Act takes effect September 1, 2023.