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Relating to certain public facilities financed, owned, and operated by a public facility corporation.
No fiscal implication to the State is anticipated.
SB 1861 would clarify that governmental sponsors are authorized to benefit from public facility corporations under the Public Facility Corporation Act of 1999. More specifically, it would clarify that any type of governmental sponsor would have the same tax benefits for affordable housing as do housing authorities that create a public facility corporation for that purpose. These public facility corporations may finance, own, and operate a multifamily residential development that meets certain requirements.
Texas Action is neutral on SB 1861 because it does not affect our liberty principles. This bill primarily clarifies existing law and practice.