Bill > HB1931

This bill amends the Local Government Code to allow public facility corporations created by housing authorities or other sponsors to finance, own, or operate multifamily residential developments, provided certain requirements are met. The key provisions include: 1. Requiring at least 50% of units in a multifamily development owned by a public facility corporation to be reserved for individuals and families earning less than 80% of the area median income, with additional requirements for corporations created by housing authorities versus other sponsors. 2. Establishing new requirements for corporations created by housing authorities to use a competitive process for selecting developers and reserve at least 10% of units as "lower income housing units" for individuals/families earning up to 60% of the area median income. 3. Prohibiting public facility users from refusing to rent to housing choice voucher participants or using minimum income standards that effectively exclude them. 4. Requiring annual compliance reporting and audits for public facility users. 5. Providing a one-year exemption period for acquired multifamily developments to come into compliance with the new requirements.