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 |
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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 [ |
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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 [ |
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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) [ |
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(2) sell property described by Subdivision (1) to a | ||
political subdivision or a nonprofit organization. | ||
(b-2) If after eight [ |
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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 [ |
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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 [ |
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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 | ||
[ |
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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 [ |
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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. |