Bill Text: TX HB4958 | 2023-2024 | 88th Legislature | Introduced


Bill Title: Relating to the establishment of the workforce housing program by the Texas Department of Housing and Community Affairs.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2023-04-18 - Left pending in committee [HB4958 Detail]

Download: Texas-2023-HB4958-Introduced.html
  88R12498 JAM-D
 
  By: Goodwin H.B. No. 4958
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the establishment of the workforce housing program by
  the Texas Department of Housing and Community Affairs.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Subchapter K, Chapter 2306, Government Code, is
  amended by adding Section 2306.2595 to read as follows:
         Sec. 2306.2595.  WORKFORCE HOUSING PROGRAM. (a) In this
  section:
               (1)  "Fund" means the workforce housing fund.
               (2)  "Program" means workforce housing program.
         (b)  The department shall establish the workforce housing
  program to provide financial assistance to participating
  municipalities to facilitate the construction and rehabilitation
  of eligible workforce housing developments in those
  municipalities. Financial assistance may be awarded from the fund
  described by Subsection (e) to eligible developments in the form of
  grants or low-interest loans for the purposes described by this
  section and must be prorated, to the extent practicable, according
  to the size of the participating municipality.
         (c)  To be eligible for financial assistance awarded by a
  participating municipality under the program, a workforce housing
  development must:
               (1)  consist of new construction or a substantial
  rehabilitation of an existing facility;
               (2)  reserve a specified percentage of the units in the
  development for occupancy of individuals and families earning:
                     (A)  not less than 30 percent of the area median
  income, adjusted for family size; and
                     (B)  not more than 120 percent of the area median
  income, adjusted for family size; and
               (3)  maintain the affordability requirements described
  by Subdivision (2) for a period of not less than 20 years following
  the date of receipt of financial assistance under this section.
         (d)  The department shall adopt rules to implement the
  program, including rules that:
               (1)  provide criteria for determining which
  municipalities may participate in the program;
               (2)  specify the percentage of units that a workforce
  housing development must reserve to satisfy the affordability
  requirements under Subsection (c)(2), to demonstrate eligibility
  for financial assistance under the program; and
               (3)  provide a scoring system to be used by a
  municipality to prioritize developments that are eligible for
  financial assistance under the program.
         (e)  The workforce housing fund is a special account in the
  state treasury. The fund consists of:
               (1)  money appropriated to the board for a purpose of
  the fund;
               (2)  repayment of principal and interest from loans
  made from the fund;
               (3)  money the board transfers to the fund from any
  available source;
               (4)  depository interest allocable to the fund and
  other investment returns on money in the fund;
               (5)  money from gifts, grants, or donations to the
  fund; and
               (6)  any other fees or sources of revenue that the
  legislature may dedicate for deposit to the fund.
         (f)  Financial assistance provided from the fund to an
  eligible workforce housing development must be spent by the
  recipient on the development not later than 36 months after the date
  the assistance is received.
         (g)  Money provided from the fund that is not spent as
  required by Subsection (f) must be returned to the department and
  deposited to the credit of the fund.
         SECTION 2.  This Act takes effect September 1, 2023.
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