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.