HBA-TYH S.B. 1013 76(R)    BILL ANALYSIS


Office of House Bill AnalysisS.B. 1013
By: Duncan
Urban Affairs
4/21/1999
Engrossed



BACKGROUND AND PURPOSE 

Currently, Texas law allows housing finance corporations to issue only
mortgage revenue bonds or bonds to finance "residential development."  The
attorney general's office is trying to develop a policy as to the intended
meaning of residential development.  S.B. 1013 extends the definition of
"residential development" to include any affordable housing project, either
in one or multiple locations.  This would increase the flexibility in the
types of projects which housing finance corporations may finance. 

RULEMAKING AUTHORITY

It is the opinion of the Office of House Bill Analysis that this bill does
not expressly delegate any additional rulemaking authority to a state
officer, department, agency, or institution. 

SECTION BY SECTION ANALYSIS

SECTION 1.  Amends Section 394.003(13), Local Government Code, to extend
the definition of "residential development" by specifying that its purpose
is to provide decent, safe, and sanitary housing and nonhousing facilities
that are an integral part of any affordable housing project, whether in one
or multiple locations.  Makes a conforming change. 

SECTION 2.  Effective date: September 1, 1999.

SECTION 3.  Emergency clause.