The bill, S.B. No. 583, amends the Local Government Code by adding Section 250.014, which mandates that certain municipalities and counties create and maintain lists of public real property suitable for affordable housing. The definition of "affordable housing" is specified as residential properties where monthly costs do not exceed 30 percent of the median adjusted gross annual income for households earning less than 120 percent of the median income in their respective areas. This requirement applies to municipalities with populations over 25,000 and counties with populations over 50,000.

Each municipality and county is required to prepare an inventory list by March 1 each year, detailing properties they own that are suitable for affordable housing development. The list must include the address, legal description, and status (vacant or improved) of each property. Additionally, the governing bodies must review this list in a public hearing and adopt a resolution to include it. The inventory must be published on the municipality's or county's website or in a conspicuous location if no website exists. The bill is set to take effect immediately upon receiving a two-thirds vote from both houses or on September 1, 2025, if that vote is not achieved.

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