LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 89TH LEGISLATIVE REGULAR SESSION April 4, 2025 TO: Honorable Cole Hefner, Chair, House Committee on Homeland Security, Public Safety & Veterans' Affairs FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HB1608 by Garcia, Josey (Relating to the adoption of a veterans' land bank program by the Texas State Affordable Housing Corporation.), As Introduced No significant fiscal implication to the State is anticipated. The bill would require the Texas State Affordable Housing Corporation to establish a veterans' land bank program for the purpose of acquiring, holding, and transferring real property to provide affordable housing for veterans who are members of low-income households. The bill would exempt from taxation certain property owned by a charitable organization engaged exclusively in acquiring, holding, and transferring unimproved real property under a veterans' land bank program as or on behalf of the corporation. The Texas State Affordable Housing Corporation is a 501(c)(3) nonprofit organization created at the direction of the Legislature to serve as a self-sustaining, statewide affordable housing provider.It is assumed that any costs and revenue implications associated with the bill would be insignificant. Local Government ImpactNo significant fiscal implication to units of local government is anticipated. Source Agencies: b > td > 304 Comptroller of Public Accounts LBB Staff: b > td > JMc, MGol, BC, CMA
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 89TH LEGISLATIVE REGULAR SESSION
April 4, 2025
TO: Honorable Cole Hefner, Chair, House Committee on Homeland Security, Public Safety & Veterans' Affairs FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HB1608 by Garcia, Josey (Relating to the adoption of a veterans' land bank program by the Texas State Affordable Housing Corporation.), As Introduced
TO: Honorable Cole Hefner, Chair, House Committee on Homeland Security, Public Safety & Veterans' Affairs
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: HB1608 by Garcia, Josey (Relating to the adoption of a veterans' land bank program by the Texas State Affordable Housing Corporation.), As Introduced
Honorable Cole Hefner, Chair, House Committee on Homeland Security, Public Safety & Veterans' Affairs
Honorable Cole Hefner, Chair, House Committee on Homeland Security, Public Safety & Veterans' Affairs
Jerry McGinty, Director, Legislative Budget Board
Jerry McGinty, Director, Legislative Budget Board
HB1608 by Garcia, Josey (Relating to the adoption of a veterans' land bank program by the Texas State Affordable Housing Corporation.), As Introduced
HB1608 by Garcia, Josey (Relating to the adoption of a veterans' land bank program by the Texas State Affordable Housing Corporation.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would require the Texas State Affordable Housing Corporation to establish a veterans' land bank program for the purpose of acquiring, holding, and transferring real property to provide affordable housing for veterans who are members of low-income households. The bill would exempt from taxation certain property owned by a charitable organization engaged exclusively in acquiring, holding, and transferring unimproved real property under a veterans' land bank program as or on behalf of the corporation. The Texas State Affordable Housing Corporation is a 501(c)(3) nonprofit organization created at the direction of the Legislature to serve as a self-sustaining, statewide affordable housing provider.It is assumed that any costs and revenue implications associated with the bill would be insignificant.
The bill would require the Texas State Affordable Housing Corporation to establish a veterans' land bank program for the purpose of acquiring, holding, and transferring real property to provide affordable housing for veterans who are members of low-income households. The bill would exempt from taxation certain property owned by a charitable organization engaged exclusively in acquiring, holding, and transferring unimproved real property under a veterans' land bank program as or on behalf of the corporation. The Texas State Affordable Housing Corporation is a 501(c)(3) nonprofit organization created at the direction of the Legislature to serve as a self-sustaining, statewide affordable housing provider.
The Texas State Affordable Housing Corporation is a 501(c)(3) nonprofit organization created at the direction of the Legislature to serve as a self-sustaining, statewide affordable housing provider.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: b > td > 304 Comptroller of Public Accounts
304 Comptroller of Public Accounts
LBB Staff: b > td > JMc, MGol, BC, CMA
JMc, MGol, BC, CMA