The bill amends the Government Code to enhance the mission and operations of the Texas State Affordable Housing Corporation. It specifies that the corporation's public purpose includes providing adequate, safe, and sanitary housing primarily for individuals and families of low income, very low income, and extremely low income, as well as those eligible for loans under the home loan program. The bill introduces new language to clarify that the corporation's activities will focus on facilitating affordable housing finance for these groups, and it emphasizes the importance of using various lending institutions to assist in providing credit to these populations.

Additionally, the bill modifies eligibility criteria for loans under the home loan program, raising the income limit from 115 percent to 140 percent of the area median family income, adjusted for family size. This change aims to broaden access to housing finance for a wider range of individuals, including specific professions such as firefighters, educators, and emergency medical personnel. The bill is set to take effect on September 1, 2025.

Statutes affected:
Introduced: Government Code 2306.553, Government Code 2306.555, Government Code 2306.5621 (Government Code 2306)