Bill > HB3533

This bill amends the Local Government Code to provide new definitions and restrictions for multifamily residential developments financed, owned, or operated by public facility corporations. Specifically, the bill defines a "multifamily residential development" as any residential development with four or more rental dwelling units, whether attached or detached. For school districts or corporations created by school districts, the bill introduces two key conditions for financing, owning, or operating such developments: either at least 75 percent of the residential units must be restricted to households with at least one district employee, or the development must be located on property that has been used by the district as a school campus or for administrative functions for at least ten years. The bill will apply only to developments where title is acquired or financing contracts are entered into on or after the effective date, with existing developments continuing under previous legal provisions. The act will take effect immediately if it receives a two-thirds vote in each legislative house, or on September 1, 2025, if it does not receive the immediate effect vote.

Government Affairs

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HB3533