House Bill No. 78 proposes the establishment of the Housing Texas Fund, which will be administered by the Texas Department of Housing and Community Affairs. The fund is created as a special fund in the state treasury and will consist of various sources of revenue, including appropriated money, transfers from available sources, investment returns, and donations. The bill outlines specific allocations for the fund, with 90% designated for grants to nonprofit developers of multifamily affordable housing, 9% for grants to nonprofit entities that assist individuals and families recently experiencing homelessness, and 1% for one-time grants aimed at preventing homelessness or facilitating stable housing placements.

Additionally, the bill mandates that the department prioritize grant allocations to nonprofit entities serving families with children or dependents with disabilities, individuals recently released from incarceration, and adults experiencing homelessness without children. The department is also tasked with establishing rules for the use of the fund's assets, ensuring compliance with the outlined limitations. The act is set to take effect 91 days after the conclusion of the legislative session.

Statutes affected:
Introduced: ()