Texas 2025 - 89th Regular

Texas Senate Bill SB2605 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	2025S0145-1 02/27/25
2	2	By: Blanco S.B. No. 2605
3	3
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5	5
6	6
7	7	A BILL TO BE ENTITLED
8	8	AN ACT
9	9	relating to the formation of a municipal housing authority asset
10	10	commission by certain municipal housing authorities.
11	11	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
12	12	SECTION 1. Chapter 392, Local Government Code, is amended
13	13	by adding Subchapter G to read as follows:
14	14	SUBCHAPTER G. ASSET COMMISSION OF CERTAIN MUNICIPAL HOUSING
15	15	AUTHORITIES
16	16	Sec. 392.151. DEFINITION. In this subchapter, "asset
17	17	commission" means a municipal housing authority asset commission
18	18	formed by a municipal housing authority under Section 392.153.
19	19	Sec. 392.152. APPLICABILITY. This subchapter applies only
20	20	to a municipal housing authority operating in:
21	21	(1) a county with a population of 800,000 or more that
22	22	is located on the international border; and
23	23	(2) a municipality with a population of 600,000 or
24	24	more that is located in a county described by Subdivision (1).
25	25	Sec. 392.153. FORMATION OF ASSET COMMISSION. The
26	26	commissioners of a municipal housing authority may adopt a
27	27	resolution to create an asset commission.
28	28	Sec. 392.154. ASSET COMMISSION MEMBERSHIP; TERMS. (a) An
29	29	asset commission is composed of five members who serve staggered
30	30	terms of five years and are appointed by a majority of the
31	31	commissioners of the municipal housing authority that formed the
32	32	asset commission. An asset commission member must:
33	33	(1) be a licensed real estate broker with at least five
34	34	years of continuous experience in the field of multifamily housing;
35	35	(2) be a certified public accountant with at least
36	36	five years of continuous experience in the field of multifamily
37	37	housing;
38	38	(3) be a licensed attorney who is certified by the
39	39	Texas Board of Legal Specialization in residential real estate law
40	40	or commercial real estate law;
41	41	(4) 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; or
44	44	(5) be a current or former chief executive officer,
45	45	chief financial officer, or executive director of a public housing
46	46	authority that owns or manages 5,000 or more units of housing,
47	47	excluding housing units paid for with vouchers under the federal
48	48	Section 8 Housing Choice Voucher Program.
49	49	(b) In addition to the qualifications required by
50	50	Subsection (a), at least one of the asset commission members must
51	51	have at least 10 years of experience in a field related to the
52	52	management or operation of apartments funded by low income-housing
53	53	tax credits.
54	54	(c) A person may not serve as an asset commission member if
55	55	the person is:
56	56	(1) a mayor, a county judge, or any other elected
57	57	official of a governmental entity within the area of operation
58	58	described by Section 392.014 for the municipal housing authority
59	59	that formed the asset commission;
60	60	(2) an employee of a town, municipality, county, or
61	61	unit of local government within the area of operation described by
62	62	Section 392.014 for the municipal housing authority that formed the
63	63	asset commission;
64	64	(3) a commissioner or employee of the municipal
65	65	housing authority that formed the asset commission;
66	66	(4) a person who was employed within the preceding two
67	67	years by the municipal housing authority that formed the asset
68	68	commission; or
69	69	(5) a person who has or has had within the preceding
70	70	two years a direct or indirect contract or a personal or financial
71	71	interest in a contract with the municipal housing authority that
72	72	formed the asset commission.
73	73	(d) Notwithstanding the provisions of Subsection (a)
74	74	establishing the terms of an asset commission member, in appointing
75	75	the initial members to an asset commission under this section, the
76	76	commissioners of a municipal housing authority shall designate:
77	77	(1) two members to serve a three-year term;
78	78	(2) two members to serve a four-year term; and
79	79	(3) one member to serve a five-year term.
80	80	Sec. 392.155. CONFLICTS OF INTEREST. (a) An asset
81	81	commission member may not:
82	82	(1) have dealings for pecuniary gain with the
83	83	municipal housing authority that formed the asset commission or a
84	84	public facility corporation sponsored by the authority; or
85	85	(2) own, acquire, or control a direct or indirect
86	86	interest in any item described by Sections 392.042(b)(1)-(5).
87	87	(b) If an asset commission member manages, owns, acquires,
88	88	or controls a direct or indirect interest in an item prohibited by
89	89	Subsection (a) or otherwise has any other dealings for pecuniary
90	90	gain with the municipal housing authority, the member shall
91	91	immediately disclose the interest to the authority and asset
92	92	commission in writing. The disclosure shall be entered in the
93	93	minutes of the asset commission for the meeting at which the
94	94	disclosure was made.
95	95	(c) An asset commission member's failure to make a required
96	96	disclosure under Subsection (b) constitutes misconduct of office.
97	97	Sec. 392.156. REMOVAL OF ASSET COMMISSION MEMBER. An asset
98	98	commission member may be removed by a majority of the commissioners
99	99	of the municipal housing authority that formed the asset commission
100	100	based on the same criteria and following the same processes for the
101	101	removal of a commissioner described by Section 392.041.
102	102	Sec. 392.157. ASSET COMMISSION MEMBER COMPENSATION AND
103	103	REIMBURSEMENT. (a) An asset commission member is entitled to:
104	104	(1) reasonable compensation for the member's services
105	105	on the asset commission; and
106	106	(2) reimbursement for necessary expenses incurred by
107	107	the member in carrying out duties related to the member's services
108	108	on the asset commission, including travel expenses.
109	109	(b) The municipal housing authority that forms an asset
110	110	commission shall pay the compensation and reimbursement described
111	111	by Subsection (a).
112	112	Sec. 392.158. POWERS AND DUTIES. (a) An asset commission
113	113	must approve by majority vote the following actions before the
114	114	municipal housing authority that formed the asset commission may
115	115	perform or approve the action:
116	116	(1) the acquisition, sale, transfer, conveyance, or
117	117	disposition of any property, building, partnership interest,
118	118	membership interest in a limited liability company, ownership
119	119	interest in any entity, or any other asset of the authority or a
120	120	public facility corporation sponsored by the authority valued in
121	121	excess of $100,000; and
122	122	(2) the trading, financing, refinancing, or issuance
123	123	of a bond secured by or associated with any property, building,
124	124	partnership interest, membership interest in a limited liability
125	125	company, ownership interest in any entity, or any other asset of the
126	126	authority or a public facility corporation sponsored by the
127	127	authority.
128	128	(b) An asset commission may directly or indirectly hold or
129	129	own an interest in an asset described by Subsection (a) and any
130	130	accompanying cash flow or benefit associated with that interest
131	131	only if the asset commission holds the interest in trust for the
132	132	sole and exclusive benefit of the municipal housing authority that
133	133	formed the asset commission.
134	134	(c) An asset commission may delegate the powers and duties
135	135	under this section to an agent or employee of the asset commission
136	136	or the municipal housing authority that formed the asset
137	137	commission, as determined appropriate by the asset commission.
138	138	Sec. 392.159. OFFICERS AND EMPLOYEES OF ASSET COMMISSION.
139	139	The secretary and executive director employed under Section 392.038
140	140	for a municipal housing authority that forms an asset commission
141	141	shall serve as the secretary and executive director of the asset
142	142	commission.
143	143	Sec. 392.160. MEETINGS OF ASSET COMMISSION. Meetings of an
144	144	asset commission are subject to Chapter 551, Government Code.
145	145	SECTION 2. This Act takes effect September 1, 2025.