The bill, H.B. No. 1466, proposes the addition of Section 2306.009 to Subchapter A, Chapter 2306 of the Government Code, which mandates annual reporting requirements for certain multifamily residential developments that receive financial assistance, housing tax credits, or property tax exemptions. Each political subdivision containing such developments must submit a report to the Texas Department of Housing and Community Affairs by January 1 each year. The report must include a list of developments in operation or under construction, along with details such as the developer's name, appraised value, and the duration of benefits received.

Furthermore, the bill requires the department to create a publicly accessible database that aggregates the reported information by political subdivision. This database will maintain records for at least two years after the benefits for each development have ended. Additionally, the department is tasked with preparing and submitting a written report to the legislature by March 1 each year, summarizing the information contained in the database. The bill is set to take effect on September 1, 2025.

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