HBA-JEK H.B. 3260 77(R)    BILL ANALYSIS


Office of House Bill AnalysisH.B. 3260
By: Carter
Urban Affairs
3/19/2001
Introduced



BACKGROUND AND PURPOSE 

Many individuals with special needs or low incomes, including many elderly
and disabled persons, depend on low-income housing.  House Bill 3260
requires the Texas Department of Housing and Community Affairs to support
by specific means the preservation of affordable housing for individuals
with special needs and individuals and families of low income. 

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. 

ANALYSIS

House Bill 3260 amends the Government Code to require the Texas Department
of Housing and Community Affairs (TDHCA) to support the preservation of
affordable housing for individuals with special needs and individuals and
families of low income.  The bill requires TDHCA to do so by making low
interest financing available to certain private for-profit and nonprofit
buyers, prioritizing available revenue for affordable housing preservation
activities, and purchasing as permitted by the property ownership program
affordable housing proposed for conversion to market-rate housing and
reselling it into the private sector with permanent rent restrictions to
preserve its affordability. 

EFFECTIVE DATE

September 1, 2001.