By: Cook  S.B. No. 2260          (In the Senate - Filed March 11, 2025; March 25, 2025, read   first time and referred to Committee on Local Government;   May 8, 2025, reported adversely, with favorable Committee   Substitute by the following vote:  Yeas 7, Nays 0; May 8, 2025, sent   to printer.)     COMMITTEE SUBSTITUTE FOR S.B. No. 2260 By:  West     A BILL TO BE ENTITLED   AN ACT     relating to the disclosure and posting of certain information   regarding multifamily residential developments that receive   certain tax exemptions and the eligibility of those developments to   receive those exemptions.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Subchapter A, Chapter 2306, Government Code, is   amended by adding Section 2306.009 to read as follows:          Sec. 2306.009.  REQUIRED DISCLOSURES BY CERTAIN   DEVELOPMENTS RECEIVING CERTAIN TAX EXEMPTIONS; POSTING OF CERTAIN   DEVELOPMENT INFORMATION. (a) The disclosure requirements under   this section apply only to a multifamily residential development   that receives a tax exemption in accordance with Section 303.042,   392.005, or 394.905, Local Government Code.          (b)  The department by rule shall require each developer of a   multifamily residential development to which this section applies   to submit, not later than April 30 of each year by certified mail,   to the appraisal district for the county in which the development is   located an annual disclosure on a form prescribed by the   department.          (c)  The disclosure required by Subsection (b) must include:                (1)  if available, the name of the development;                (2)  the address of the development;                (3)  the name of each principal owner of the   development and the ownership shares each owner holds;                (4)  the total number of residential units at the   development;                (5)  if available, the appraised value of the   development based on the most recent appraisal conducted by the   appraisal district for the county in which the development is   located;                (6)  if available, the total dollar amount of the tax   exemption the development received for the preceding tax year based   on the appraised value of the development described by Subdivision   (4) multiplied by the rate for each tax from which the development   is exempt;                (7)  affordability information on the residential   units at the development, including:                      (A)  the number of units that are income   restricted, including a breakdown of:                            (i)  the income restriction levels of those   units; and                            (ii)  the number of bedrooms and bathrooms   in those units;                      (B)  the average difference between the rent   charged for the units that are income restricted and the rent   charged for other units at the development; and                      (C)  the number of tenants who participate in the   housing choice voucher program under Section 8, United States   Housing Act of 1937 (42 U.S.C. Section 1437f); and                (8)  any other information the department determines   necessary.          (d)  An appraisal district shall provide notice to the   department of each developer of a development to which this section   applies who does not submit the disclosure under Subsection (b) by   the date required under that subsection.          (e)  An appraisal district shall:                (1)  review each disclosure submitted to the district   under Subsection (b) to verify the accuracy of the contents of the   disclosure; and                (2)  not later than September 1 of each year, submit to   the department the reviewed disclosures.          (f)  Not later than the 60th day after the date the   department receives the disclosures under Subsection (e), the   department shall compile into data sets the information:                (1)  from the disclosures submitted to the department   under Subsection (e); and                (2)  described by Subsection (c) that is collected by   the department for developments that:                      (A)  receive financial assistance administered   under Chapter 1372; or                      (B)  are allocated housing tax credits under   Subchapter DD.          (g)  The department shall collaborate with the Department of   Information Resources to post the data sets compiled by the   department under Subsection (f) on the Texas Open Data Portal   established by the Department of Information Resources under   Section 2054.070. The department shall ensure the data sets posted   on the portal do not include information that is confidential or   protected from disclosure under federal or state law.          (h)  Not later than December 1 of each year, the department   shall prepare and submit to the legislature a written report that   includes a summary of the information contained in the data sets the   department compiles under Subsection (f). The department shall   ensure a report under this subsection does not disclose personal   identifying information of a tenant residing in a development   included in the report.          SECTION 2.  Section 303.0421, Local Government Code, is   amended by adding Subsection (b-1) to read as follows:          (b-1)  Notwithstanding this section and Section 303.042(c),   an exemption under Section 303.042(c) for a multifamily residential   development applies only if the development has timely submitted   the disclosure required by Section 2306.009, Government Code, for   the preceding tax year.          SECTION 3.  Section 392.005(c), Local Government Code, is   amended to read as follows:          (c)  An exemption under this section for a multifamily   residential development which is owned by a housing development   corporation or a similar entity created by a housing authority,   other than a public facility corporation created by a housing   authority under Chapter 303, and which does not have at least 20   percent of its residential units reserved for public housing units,   applies only if:                (1)  the authority holds a public hearing, at a regular   meeting of the authority's governing body, to approve the   development; [and]                (2)  at least 50 percent of the units in the multifamily   residential development are reserved for occupancy by individuals   and families earning less than 80 percent of the area median income,   adjusted for family size; and                (3)  the development has timely submitted the   disclosure required by Section 2306.009, Government Code, for the   preceding tax year.          SECTION 4.  Section 394.905, Local Government Code, is   amended to read as follows:          Sec. 394.905.  EXEMPTION FROM TAXATION.  (a) The housing   finance corporation, all property owned by it, the income from the   property, all bonds issued by it, the income from the bonds, and the   transfer of the bonds are exempt, as public property used for public   purposes, from license fees, recording fees, and all other taxes   imposed by this state or any political subdivision of this state.   The corporation is exempt from the franchise tax imposed by Chapter   171, Tax Code, only if the corporation is exempted by that chapter.          (b)  Notwithstanding Subsection (a), a multifamily   residential development owned by a housing finance corporation is   exempt from taxes imposed by this state or a political subdivision   of this state only if the development has timely submitted the   disclosure required by Section 2306.009, Government Code, for the   preceding tax year.          SECTION 5.  (a) The developer of a multifamily residential   development to which Section 2306.009, Government Code, as added by   this Act, applies shall submit the first disclosure required by   Subsection (b) of that section not later than April 30, 2026.          (b)  Notwithstanding Section 2306.009(h), Government Code,   as added by this Act, the Texas Department of Housing and Community   Affairs is not required to submit the first report under that   subsection until December 1, 2026.          SECTION 6.  Sections 303.0421, 392.005, and 394.905, Local   Government Code, as amended by this Act, apply only to a tax for a   tax year that begins on or after the effective date of this Act.          SECTION 7.  This Act takes effect September 1, 2025.     * * * * *