Bill Text: TX HB1634 | 2023-2024 | 88th Legislature | Engrossed
Bill Title: Relating to requirements for beneficial tax treatment related to a leasehold or other possessory interest in a public facility used to provide multifamily housing.
Spectrum: Slight Partisan Bill (Democrat 3-1)
Status: (Engrossed - Dead) 2023-05-22 - Vote taken in committee [HB1634 Detail]
Download: Texas-2023-HB1634-Engrossed.html
88R5975 AMF-D | ||
By: Walle, Garcia, Gates | H.B. No. 1634 |
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relating to requirements for beneficial tax treatment related to a | ||
leasehold or other possessory interest in a public facility used to | ||
provide multifamily housing. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 303.042(f), Local Government Code, is | ||
amended to read as follows: | ||
(f) Notwithstanding Subsections (a) and (b), during the | ||
period of time that a corporation owns a particular public | ||
facility, a leasehold or other possessory interest in the real | ||
property of the public facility granted by the corporation shall | ||
be treated in the same manner as a leasehold or other possessory | ||
interest in real property granted by an authority under Section | ||
379B.011(b) if the requirements under Section 303.0425 are met. | ||
SECTION 2. Subchapter B, Chapter 303, Local Government | ||
Code, is amended by adding Section 303.0425 to read as follows: | ||
Sec. 303.0425. REQUIREMENTS FOR BENEFICIAL TAX TREATMENT | ||
RELATING TO CERTAIN PUBLIC FACILITIES. (a) In this section: | ||
(1) "Developer" means a private entity that constructs | ||
or rehabilitates a development. | ||
(2) "Housing choice voucher program" means the housing | ||
choice voucher program under Section 8, United States Housing Act | ||
of 1937 (42 U.S.C. Section 1437f). | ||
(3) "Housing development" means a development | ||
constructed or rehabilitated to provide multifamily housing. | ||
(4) "Public facility user" means a developer or other | ||
private entity that has a leasehold or other possessory interest in | ||
a public facility used to provide multifamily housing. | ||
(b) Section 303.042(f) applies to a leasehold or other | ||
possessory interest in a public facility only if the public | ||
facility user meets the requirements of this section. The | ||
requirements prescribed by this section apply only to the | ||
application of taxes related to a leasehold or other possessory | ||
interest in a public facility under Section 303.042(f) and do not | ||
restrict the authority of a corporation to lease a public facility | ||
to a private entity under terms other than the terms described by | ||
this section. | ||
(c) A public facility user may not: | ||
(1) refuse to rent a residential unit in a housing | ||
development to an individual or family because the individual or | ||
family participates in the housing choice voucher program; or | ||
(2) use a financial or minimum income standard that | ||
requires an individual or family participating in the housing | ||
choice voucher program to have a monthly income of more than 250 | ||
percent of the individual's or family's share of the total monthly | ||
rent payable for a residential unit. | ||
SECTION 3. Section 303.0425, Local Government Code, as | ||
added by this Act, applies only to a leasehold or other possessory | ||
interest in a public facility granted by a public facility | ||
corporation to a public facility user, as defined by that section, | ||
on or after the effective date of this Act. | ||
SECTION 4. This Act takes effect September 1, 2023. |