Bill Text: TX SB1130 | 2023-2024 | 88th Legislature | Introduced


Bill Title: Relating to the formation of a municipal housing authority asset commission by certain municipal housing authorities.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2023-04-18 - Vote taken in committee [SB1130 Detail]

Download: Texas-2023-SB1130-Introduced.html
 
 
  By: Blanco S.B. No. 1130
 
 
 
   
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the formation of a municipal housing authority asset
  commission by certain municipal housing authorities.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Chapter 392, Local Government Code, is amended
  by adding Subchapter G to read as follows:
  SUBCHAPTER G. ASSET COMMISSION OF CERTAIN MUNICIPAL HOUSING
  AUTHORITIES
         Sec. 392.151.  DEFINITION. In this subchapter, "asset
  commission" means a municipal housing authority asset commission
  formed by a municipal housing authority under Section 392.153.
         Sec. 392.152.  APPLICABILITY. This subchapter applies only
  to a municipal housing authority operating in:
               (1)  a county with a population of 800,000 or more that
  is located on the international border; and
               (2)  a municipality with a population of 600,000 or
  more that is located in a county described by Subdivision (1).
         Sec. 392.153.  FORMATION OF ASSET COMMISSION. A municipal
  housing authority asset commission may be formed by adoption of a
  resolution by the commissioners of a municipal housing authority.
         Sec. 392.154.  ASSET COMMISSION MEMBERSHIP; TERMS. (a) An
  asset commission is composed of five members who serve staggered
  terms of five years and are appointed by a majority of the
  commissioners of the municipal housing authority that formed the
  asset commission. An asset commission member must:
               (1)  be a licensed real estate broker;
               (2)  be a certified public accountant;
               (3)  be a licensed attorney who is certified by the
  Texas Board of Legal Specialization in residential real estate law
  or commercial real estate law;
               (4)  have at least five years of continuous experience
  in residential or commercial property management;
               (5)  have at least five years of continuous experience
  in the field of finance, accounting, or banking;
               (6)  have at least five years of continuous experience
  as an architect, engineer, or land surveyor;
               (7)  have at least five years of continuous experience
  in developing, financing, constructing, operating, or managing a
  multifamily housing portfolio of no fewer than 3,000 units;
               (8)  have at least five years of continuous experience
  as an owner or management representative of a private, a nonprofit,
  an educational, or a governmental entity with no fewer than 500
  employees; or
               (9)  be a current or former chief executive officer,
  chief financial officer, or executive director of a public housing
  authority that owns or manages 5,000 or more units.
         (b)  In addition to the qualifications required by
  Subsection (a), at least one of the asset commission members must
  have at least 10 years of experience in a field related to the
  management or operation of apartments funded by low income housing
  tax credits.
         (c)  A person may not serve as an asset commission member if
  the person is:
               (1)  a mayor, a county judge, or any other elected
  official of a governmental entity within the area of operation
  described by Section 392.014 for the municipal housing authority
  that formed the asset commission;
               (2)  an employee of a town, municipality, or county
  within the area of operation described by Section 392.014 for the
  municipal housing authority that formed the asset commission;
               (3)  a commissioner or employee of the municipal
  housing authority that formed the asset commission;
               (4)  a person who was employed within the preceding two
  years by the municipal housing authority that formed the asset
  commission; or
               (5)  a person who has or has had within the preceding
  two years a direct or indirect contract or a personal or financial
  interest in a contract with the municipal housing authority that
  formed the asset commission.
         (d)  Notwithstanding the provisions of Subsection (a)
  establishing the terms of an asset commission member, in appointing
  the initial members to an asset commission under this section, the
  commissioners of a municipal housing authority shall designate:
               (1)  two members to serve a three-year term;
               (2)  two members to serve a four-year term; and
               (3)  one member to serve a five-year term.
         Sec. 392.155.  CONFLICTS OF INTEREST. (a) An asset
  commission member may not:
               (1)  have dealings for pecuniary gain with the
  municipal housing authority that formed the asset commission or a
  public facility corporation sponsored by the authority; or
               (2)  own, acquire, or control a direct or indirect
  interest in any item described by Sections 392.042(b)(1)-(5).
         (b)  If an asset commission member manages, owns, acquires,
  or controls a direct or indirect interest in an item prohibited by
  Subsection (a) or otherwise has any other dealings for pecuniary
  gain with the municipal housing authority, the member shall
  immediately disclose the interest to the authority and asset
  commission in writing. The disclosure shall be entered in the
  minutes of the asset commission for the meeting at which the
  disclosure was made.
         (c)  An asset commission member's failure to make a required
  disclosure under Subsection (b) constitutes misconduct of office.
         Sec. 392.156.  REMOVAL OF ASSET COMMISSION MEMBER. An asset
  commission member may be removed by a majority of the commissioners
  of the municipal housing authority that formed the asset commission
  based on the same criteria and following the same processes for the
  removal of a commissioner described by Section 392.041.
         Sec. 392.157.  ASSET COMMISSION MEMBER COMPENSATION AND
  REIMBURSEMENT. (a) An asset commission member is entitled to:
               (1)  reasonable compensation for the member's services
  on the asset commission; and
               (2)  reimbursement for necessary expenses incurred by
  the member in carrying out duties related to services on the asset
  commission, including travel expenses.
         (b)  The municipal housing authority that forms an asset
  commission shall pay the compensation and reimbursement described
  by Subsection (a).
         Sec. 392.158.  POWERS AND DUTIES. (a) An asset commission
  must approve by majority vote the following actions before the
  municipal housing authority that formed the asset commission may
  perform the action:
               (1)  the acquisition, sale, transfer, conveyance, or
  disposition of any property, building, partnership interest,
  membership interest in a limited liability company, ownership
  interest in any entity, or any other asset of the authority or a
  public facility corporation sponsored by the authority valued in
  excess of $100,000; and
               (2)  the trading, financing, refinancing, or issuance
  of a bond secured by or associated with any property, building,
  partnership interest, membership interest in a limited liability
  company, ownership interest in any entity, or any other asset of the
  authority or a public facility corporation sponsored by the
  authority.
         (b)  An asset commission may directly or indirectly hold or
  own an interest in an asset described by Subsection (a) and any
  accompanying cash flow or benefit associated with that interest
  only if the asset commission holds the interest in trust for the
  sole and exclusive benefit of the municipal housing authority that
  formed the asset commission.
         (c)  An asset commission may delegate the powers and duties
  under this section to an agent or employee of the asset commission
  or the municipal housing authority that formed the asset
  commission, as determined appropriate by the asset commission.
         Sec. 392.159.  OFFICERS AND EMPLOYEES OF ASSET COMMISSION.
  The secretary and executive director employed under Section 392.038
  for a municipal housing authority that forms an asset commission
  shall serve as the secretary and executive director of the asset
  commission.
         Sec. 392.160.  MEETINGS OF ASSET COMMISSION. Meetings of an
  asset commission are subject to Chapter 551, Government Code.
         SECTION 2.  This Act takes effect September 1, 2023.
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