Bill > HB1810

This bill establishes a new Workforce Housing Program through the Texas Department of Housing and Community Affairs, designed to provide financial assistance to municipalities for constructing and rehabilitating affordable housing. The program will create a special workforce housing fund that can be used to offer grants or low-interest loans to housing developments that meet specific criteria. To qualify for assistance, housing developments must involve new construction or substantial rehabilitation, reserve a percentage of units for individuals and families earning between 30% and 120% of the area median income, and maintain these affordability requirements for at least 20 years. The fund will be comprised of state appropriations, loan repayments, transfers, interest, gifts, grants, and other potential revenue sources. The department is required to develop rules for determining municipal participation, specifying unit reservation percentages, and creating a scoring system to prioritize eligible developments. Any financial assistance must be spent within 36 months of receipt, with unspent funds being returned to the fund. The bill is set to take effect on September 1, 2025, providing a clear timeline for implementation of this new housing initiative.

Government Affairs

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HB1810