Senate Bill No. 2260 introduces new requirements for multifamily residential developments that receive certain tax exemptions in Texas. It mandates that these developments disclose specific information annually to the local appraisal district, including the development's name, address, ownership details, total residential units, appraised value, tax exemption amounts, and affordability information. The disclosures must be submitted by April 30 each year, and appraisal districts are responsible for reviewing these disclosures for accuracy. Additionally, the Texas Department of Housing and Community Affairs is tasked with compiling this information into data sets and posting them on the Texas Open Data Portal, ensuring that no confidential tenant information is disclosed.

The bill also stipulates that tax exemptions for multifamily residential developments are contingent upon the timely submission of the required disclosures. This applies to exemptions under various sections of the Local Government Code, including those for developments owned by housing development corporations and housing finance corporations. The first disclosure is due by April 30, 2026, and the initial report to the legislature is due by December 1, 2026. The act is set to take effect on September 1, 2025.

Statutes affected:
Introduced: ()
Senate Committee Report: Local Government Code 303.0421, Local Government Code 392.005, Local Government Code 394.905 (Local Government Code 394, Local Government Code 303, Local Government Code 392)
Engrossed: Local Government Code 303.0421, Local Government Code 392.005, Local Government Code 394.905 (Local Government Code 394, Local Government Code 303, Local Government Code 392)