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 to the Texas Department of Housing and Community Affairs. Specifically, the bill applies to developments that receive financial assistance under Chapter 1372, are allocated housing tax credits, or receive property tax exemptions. Each political subdivision containing such developments must submit a report by January 1 each year, detailing the developments in operation or under construction, along with relevant information 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 submitted reports by political subdivision, maintaining this information for at least two years after the benefits have ended. Additionally, the department is tasked with preparing and submitting a written report to the legislature by March 1 each year, summarizing the data from the database. The provisions of this act are set to take effect on September 1, 2025.

Statutes affected:
Introduced: ()