Bill Text: TX SB1129 | 2019-2020 | 86th Legislature | Engrossed


Bill Title: Relating to the operation of certain urban land bank demonstration programs.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Engrossed - Dead) 2019-05-01 - Referred to Urban Affairs [SB1129 Detail]

Download: Texas-2019-SB1129-Engrossed.html
 
 
  By: West S.B. No. 1129
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the operation of certain urban land bank demonstration
  programs.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Sections 379C.009(b), (b-1), and (b-2), Local
  Government Code, are amended to read as follows:
         (b)  Except as provided by Subsection (b-1), the land bank
  must sell a property to a qualified participating developer within
  the eight-year [four-year] period following the date of acquisition
  for the purpose of construction of affordable housing for sale or
  rent to low income households.
         (b-1)  Before the completion of the eight-year [four-year]
  period described by Subsection (b), the land bank may, subject to
  Section 379C.0106:
               (1)  transfer property that the land bank determines is
  not appropriate for residential development to the taxing units
  described by Subsection (b-2) [(b)]; or
               (2)  sell property described by Subdivision (1) to a
  political subdivision or a nonprofit organization.
         (b-2)  If after eight [four] years a qualified participating
  developer has not purchased the property, the property shall be
  transferred from the land bank to the taxing units who were parties
  to the judgment for disposition as otherwise allowed under the law.
         SECTION 2.  Section 379C.010(c), Local Government Code, is
  amended to read as follows:
         (c)  If property is developed for rental housing, the deed
  restrictions must be for a period of not less than 15 years and must
  require that:
               (1)  40 [100] percent of the rental units be occupied by
  households with incomes not greater than 60 percent of area median
  family income, based on gross household income, adjusted for
  household size, for the metropolitan statistical area in which the
  municipality is located, as determined annually by the United
  States Department of Housing and Urban Development;
               (2)  30 [40] percent of the units be occupied by
  households with incomes not greater than 50 percent of area median
  family income, based on gross household income, adjusted for
  household size, for the metropolitan statistical area in which the
  municipality is located, as determined annually by the United
  States Department of Housing and Urban Development; or
               (3)  20 percent of the units be occupied by households
  with incomes not greater than 30 percent of area median family
  income, based on gross household income, adjusted for household
  size, for the metropolitan statistical area in which the
  municipality is located, as determined annually by the United
  States Department of Housing and Urban Development.
         SECTION 3.  Section 379C.014(c), Local Government Code, is
  amended to read as follows:
         (c)  A sale under this section within the eight-year
  [four-year] period following the date of acquisition of the
  property by the land bank is for a public purpose and satisfies the
  requirement under Section 379C.009(b) that the property be sold
  within the eight-year [four-year] period to a qualified
  participating developer.
         SECTION 4.  Chapter 379C, Local Government Code, is amended
  by adding Section 379C.016 to read as follows:
         Sec. 379C.016.  ALLOCATION AND USE OF AD VALOREM TAXES
  COLLECTED ON PROPERTY DEVELOPED UNDER PROGRAM. An interlocal
  agreement under Section 379C.008(a)(4) may provide that, for the
  first five calendar years occurring after the date of completion of
  the development of a property acquired by a qualified participating
  developer under this chapter, 50 percent of the ad valorem taxes
  collected on the property must be deposited to the credit of the
  land bank for the use of the program.
         SECTION 5.  Section 379C.010(c), Local Government Code, as
  amended by this Act, applies only to property purchased from a land
  bank by a qualified participating developer on or after the
  effective date of this Act.
         SECTION 6.  This Act takes effect September 1, 2019.
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