Texas 2023 - 88th Regular

Texas Senate Bill SB1130 Compare Versions

Version 1 (Old)

Version 2 (New)

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1	1	By: Blanco S.B. No. 1130
2	2
3	3
4	4	A BILL TO BE ENTITLED
5	5	AN ACT
6	6	relating to the formation of a municipal housing authority asset
7	7	commission by certain municipal housing authorities.
8	8	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
9	9	SECTION 1. Chapter 392, Local Government Code, is amended
10	10	by adding Subchapter G to read as follows:
11	11	SUBCHAPTER G. ASSET COMMISSION OF CERTAIN MUNICIPAL HOUSING
12	12	AUTHORITIES
13	13	Sec. 392.151. DEFINITION. In this subchapter, "asset
14	14	commission" means a municipal housing authority asset commission
15	15	formed by a municipal housing authority under Section 392.153.
16	16	Sec. 392.152. APPLICABILITY. This subchapter applies only
17	17	to a municipal housing authority operating in:
18	18	(1) a county with a population of 800,000 or more that
19	19	is located on the international border; and
20	20	(2) a municipality with a population of 600,000 or
21	21	more that is located in a county described by Subdivision (1).
22	22	Sec. 392.153. FORMATION OF ASSET COMMISSION. A municipal
23	23	housing authority asset commission may be formed by adoption of a
24	24	resolution by the commissioners of a municipal housing authority.
25	25	Sec. 392.154. ASSET COMMISSION MEMBERSHIP; TERMS. (a) An
26	26	asset commission is composed of five members who serve staggered
27	27	terms of five years and are appointed by a majority of the
28	28	commissioners of the municipal housing authority that formed the
29	29	asset commission. An asset commission member must:
30	30	(1) be a licensed real estate broker;
31	31	(2) be a certified public accountant;
32	32	(3) be a licensed attorney who is certified by the
33	33	Texas Board of Legal Specialization in residential real estate law
34	34	or commercial real estate law;
35	35	(4) have at least five years of continuous experience
36	36	in residential or commercial property management;
37	37	(5) have at least five years of continuous experience
38	38	in the field of finance, accounting, or banking;
39	39	(6) have at least five years of continuous experience
40	40	as an architect, engineer, or land surveyor;
41	41	(7) have at least five years of continuous experience
42	42	in developing, financing, constructing, operating, or managing a
43	43	multifamily housing portfolio of no fewer than 3,000 units;
44	44	(8) have at least five years of continuous experience
45	45	as an owner or management representative of a private, a nonprofit,
46	46	an educational, or a governmental entity with no fewer than 500
47	47	employees; or
48	48	(9) be a current or former chief executive officer,
49	49	chief financial officer, or executive director of a public housing
50	50	authority that owns or manages 5,000 or more units.
51	51	(b) In addition to the qualifications required by
52	52	Subsection (a), at least one of the asset commission members must
53	53	have at least 10 years of experience in a field related to the
54	54	management or operation of apartments funded by low income housing
55	55	tax credits.
56	56	(c) A person may not serve as an asset commission member if
57	57	the person is:
58	58	(1) a mayor, a county judge, or any other elected
59	59	official of a governmental entity within the area of operation
60	60	described by Section 392.014 for the municipal housing authority
61	61	that formed the asset commission;
62	62	(2) an employee of a town, municipality, or county
63	63	within the area of operation described by Section 392.014 for the
64	64	municipal housing authority that formed the asset commission;
65	65	(3) a commissioner or employee of the municipal
66	66	housing authority that formed the asset commission;
67	67	(4) a person who was employed within the preceding two
68	68	years by the municipal housing authority that formed the asset
69	69	commission; or
70	70	(5) a person who has or has had within the preceding
71	71	two years a direct or indirect contract or a personal or financial
72	72	interest in a contract with the municipal housing authority that
73	73	formed the asset commission.
74	74	(d) Notwithstanding the provisions of Subsection (a)
75	75	establishing the terms of an asset commission member, in appointing
76	76	the initial members to an asset commission under this section, the
77	77	commissioners of a municipal housing authority shall designate:
78	78	(1) two members to serve a three-year term;
79	79	(2) two members to serve a four-year term; and
80	80	(3) one member to serve a five-year term.
81	81	Sec. 392.155. CONFLICTS OF INTEREST. (a) An asset
82	82	commission member may not:
83	83	(1) have dealings for pecuniary gain with the
84	84	municipal housing authority that formed the asset commission or a
85	85	public facility corporation sponsored by the authority; or
86	86	(2) own, acquire, or control a direct or indirect
87	87	interest in any item described by Sections 392.042(b)(1)-(5).
88	88	(b) If an asset commission member manages, owns, acquires,
89	89	or controls a direct or indirect interest in an item prohibited by
90	90	Subsection (a) or otherwise has any other dealings for pecuniary
91	91	gain with the municipal housing authority, the member shall
92	92	immediately disclose the interest to the authority and asset
93	93	commission in writing. The disclosure shall be entered in the
94	94	minutes of the asset commission for the meeting at which the
95	95	disclosure was made.
96	96	(c) An asset commission member's failure to make a required
97	97	disclosure under Subsection (b) constitutes misconduct of office.
98	98	Sec. 392.156. REMOVAL OF ASSET COMMISSION MEMBER. An asset
99	99	commission member may be removed by a majority of the commissioners
100	100	of the municipal housing authority that formed the asset commission
101	101	based on the same criteria and following the same processes for the
102	102	removal of a commissioner described by Section 392.041.
103	103	Sec. 392.157. ASSET COMMISSION MEMBER COMPENSATION AND
104	104	REIMBURSEMENT. (a) An asset commission member is entitled to:
105	105	(1) reasonable compensation for the member's services
106	106	on the asset commission; and
107	107	(2) reimbursement for necessary expenses incurred by
108	108	the member in carrying out duties related to services on the asset
109	109	commission, including travel expenses.
110	110	(b) The municipal housing authority that forms an asset
111	111	commission shall pay the compensation and reimbursement described
112	112	by Subsection (a).
113	113	Sec. 392.158. POWERS AND DUTIES. (a) An asset commission
114	114	must approve by majority vote the following actions before the
115	115	municipal housing authority that formed the asset commission may
116	116	perform the action:
117	117	(1) the acquisition, sale, transfer, conveyance, or
118	118	disposition of any property, building, partnership interest,
119	119	membership interest in a limited liability company, ownership
120	120	interest in any entity, or any other asset of the authority or a
121	121	public facility corporation sponsored by the authority valued in
122	122	excess of $100,000; and
123	123	(2) the trading, financing, refinancing, or issuance
124	124	of a bond secured by or associated with any property, building,
125	125	partnership interest, membership interest in a limited liability
126	126	company, ownership interest in any entity, or any other asset of the
127	127	authority or a public facility corporation sponsored by the
128	128	authority.
129	129	(b) An asset commission may directly or indirectly hold or
130	130	own an interest in an asset described by Subsection (a) and any
131	131	accompanying cash flow or benefit associated with that interest
132	132	only if the asset commission holds the interest in trust for the
133	133	sole and exclusive benefit of the municipal housing authority that
134	134	formed the asset commission.
135	135	(c) An asset commission may delegate the powers and duties
136	136	under this section to an agent or employee of the asset commission
137	137	or the municipal housing authority that formed the asset
138	138	commission, as determined appropriate by the asset commission.
139	139	Sec. 392.159. OFFICERS AND EMPLOYEES OF ASSET COMMISSION.
140	140	The secretary and executive director employed under Section 392.038
141	141	for a municipal housing authority that forms an asset commission
142	142	shall serve as the secretary and executive director of the asset
143	143	commission.
144	144	Sec. 392.160. MEETINGS OF ASSET COMMISSION. Meetings of an
145	145	asset commission are subject to Chapter 551, Government Code.
146	146	SECTION 2. This Act takes effect September 1, 2023.