By: Johnson S.B. No. 403     A BILL TO BE ENTITLED   AN ACT   relating to a right of first refusal applicable to the sale of   housing developments that have received certain financial   assistance administered by the Texas Department of Housing and   Community Affairs.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 2306.6726(b), Government Code, is   amended to read as follows:          (b)  The owner of a development subject to a right of first   refusal under Section 2306.6725 may:                (1)  during the first 60-day period after notice is   provided under Subsection (a-1), negotiate or enter into a purchase   agreement only with a qualified entity that is:                      (A)  a community housing development organization   as defined by the federal HOME investment partnership program; [or]                      (B)  if the authority or the corporation owns the   fee title to the development owner's leasehold estate:                            (i)  a public housing authority; or                            (ii)  a public facility corporation created   by a public housing authority under Chapter 303, Local Government   Code; or                      (C)  controlled by an entity described by   Paragraph (A) or (B);                (2)  during the second 60-day period after notice is   provided under Subsection (a-1), negotiate or enter into a purchase   agreement with a qualified entity that:                      (A)  is described by Section 2306.6706;                      (B)  is controlled by an entity described by   Paragraph (A); or                      (C)  is a tenant organization; and                (3)  during the last 60-day period after notice is   provided under Subsection (a-1), negotiate or enter into a purchase   agreement with any other qualified entity.          SECTION 2.  Section 2306.6726, Government Code, as amended   by this Act, applies to the sale of a development supported with an   allocation of low income housing tax credits issued before, on, or   after the effective date of this Act.          SECTION 3.  This Act takes effect September 1, 2021.