H.B. No. 4505 establishes the Workforce Housing Capital Investment Fund Program in Texas, aimed at funding the development of workforce housing for households earning between 30% and 80% of the area median income. The bill introduces a new subchapter, Subchapter EE, to Chapter 2306 of the Government Code, which outlines the definitions, fund structure, program administration, and application requirements for the program. The fund will consist of various sources, including gifts, grants, legislative appropriations, and fees, and will be used to provide zero-interest loans to qualified nonprofit organizations that develop single-family housing projects.

The program will be administered by a nonprofit housing organization contracted by the Texas Department of Housing and Community Affairs, which must meet specific criteria, including having a statewide service area and experience in providing support to low-income homebuyers. The bill mandates the preparation of an annual report by the program administrator detailing loan recipients and project progress, as well as an independent financial audit of the program's activities. The act is set to take effect on September 1, 2025.

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