Bill Text: TX SB1684 | 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) 2023-03-16 - Referred to Local Government [SB1684 Detail]
Download: Texas-2023-SB1684-Introduced.html
88R12498 JAM-D | ||
By: Johnson | S.B. No. 1684 |
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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. |