Bill > HB4505

This bill establishes the Workforce Housing Capital Investment Fund Program to support the development of affordable housing for households earning between 30 and 80 percent of the area median income. The program will be administered by a selected nonprofit housing organization through a competitive procurement process, with the Texas Department of Housing and Community Affairs overseeing implementation. The fund will be created in the state treasury and can receive money from gifts, grants, legislative appropriations, and loan repayments. The program will provide zero-interest loans to eligible nonprofit organizations to cover costs associated with developing single-family housing projects, including planning, land acquisition, infrastructure, and broadband services. Loan recipients must be nonprofit organizations with at least 15 years of experience in building owner-occupied residential homes for lower-income households. The program administrator will be required to submit annual reports detailing loan recipients, project progress, and undergo independent financial audits. The bill aims to address housing shortages, support local economies, and provide housing options for a critical segment of the population that is often underserved by for-profit housing developers. The program is set to take effect on September 1, 2025.

Government Affairs

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HB4505