Texas Local Government Code Title 12, Chapter 373a - Homestead Preservation Districts And Reinvestment Zones
SUBCHAPTER A GENERAL PROVISIONS
- Texas Section 373A.001 - Purpose
The purpose of this chapter is to: (1) promote the ability of municipalities to increase home ownership, provide affordable housing, and prevent the involuntary loss...
- Texas Section 373A.002 - Definitions
In this chapter: (1) "Affordable housing" means housing that is located in a district and is affordable to households earning 70 percent or less of...
SUBCHAPTER B GENERAL POWERS AND DUTIES
- Texas Section 373A.003 - Applicability Of Chapter
(a) This chapter applies to a municipality with a population of more than 750,000 that is located in a uniform state service region with fewer...
- Texas Section 373A.051 - Municipal Power To Designate District
(a) To promote and expand the ownership and rental of affordable housing and to prevent the involuntary loss of homesteads by existing homeowners and renters...
- Texas Section 373A.052 - Eligibility For Designation
Sec. 373A.052. ELIGIBILITY FOR DESIGNATION. (a) To be designated as a district within a municipality described by Section 373A.003(a) under this subchapter, an area must...
- Texas Section 373A.0521 - Dissolution
(a) The governing body of a municipality in which a district is located may adopt an ordinance dissolving the district. (b) On the adoption of...
- Texas Section 373A.053 - Inventory Of Properties
(a) The municipality and any county containing all or the greatest portion of the district shall each prepare on an annual basis an inventory of...
SUBCHAPTER C HOMESTEAD LAND TRUST
- Texas Section 373A.054 - Additional Methods Of Increasing The Supply Of Affordable Housing
A municipality that designates a district under Section 373A.051 may provide tax-exempt bond financing, offer density bonuses, or provide other incentives to increase the supply...
- Texas Section 373A.101 - Creation
The governing body of a political subdivision by ordinance or order may create or designate under this subchapter one or more homestead land trusts, including...
- Texas Section 373A.102 - Nature Of Nonpublic Trust
A trust that is not created by the governing body of a political subdivision must be a nonprofit organization that is: (1) created to acquire...
- Texas Section 373A.103 - Purpose Of Trust
The purpose of a trust is to: (1) control local land use and reduce absentee ownership; (2) provide affordable housing for low-income and moderate-income residents...
- Texas Section 373A.104 - Board Of Directors
(a) A trust shall be governed by a board of directors. (b) If a trust holds land that provides at least 100 housing units, at...
- Texas Section 373A.105 - Title To Land
(a) A trust may retain title to land it acquires and may lease housing units located on the land or sell housing units located on...
- Texas Section 373A.106 - Sale Or Lease Of Housing Units
(a) A trust shall sell or lease all housing units only to families with a yearly income at the time of purchase or lease of...
- Texas Section 373A.107 - Transfer From Governmental Entities; Forgiving Outstanding Taxes
(a) A governmental entity may transfer land to a trust without competitive bidding. (b) A taxing unit may forgive outstanding taxes and fees on property...
- Texas Section 373A.109 - Relation To Other Law
This subchapter does not preclude the creation of a land trust by a nonprofit organization, including a community housing development organization, under other statutory or...
SUBCHAPTER D HOMESTEAD PRESERVATION REINVESTMENT ZONE
- Texas Section 373A.110 - Applicability Of Subchapter To Trust Operated By Housing Finance Corporation
Sections 373A.102, 373A.104, 373A.105(b), and 373A.106 do not apply to a trust operated in the district by a housing finance corporation established under Chapter 394....
- Texas Section 373A.151 - Applicability Of Other Law
(a) Except as provided by this subchapter, Chapter 311, Tax Code, applies to a homestead preservation reinvestment zone created under this subchapter. To the extent...
- Texas Section 373A.152 - General Authority To Create Homestead Preservation Reinvestment Zone
(a) A municipality by ordinance may designate a contiguous geographical area contained entirely within the boundaries of the district as a homestead preservation reinvestment zone...
- Texas Section 373A.1521 - Contents Of Reinvestment Zone Ordinance
The ordinance designating the homestead preservation zone must: (1) contain the information required under Sections 311.004(a)(1), (4), and (6), Tax Code; (2) assign a name...
- Texas Section 373A.1522 - Effective Date Of Zone
The zone designated by the ordinance adopted under Section 373A.1521 takes effect on the date designated by the municipality in the ordinance adopted under Section...
- Texas Section 373A.1541 - Tax Increment Financing And Abatement
Designation of an area as a homestead preservation reinvestment zone is also designation of the area as a reinvestment zone for tax increment financing under...
- Texas Section 373A.155 - Collection And Deposit Of Tax Increments
(a) The municipality designating the zone and the county shall provide for the collection of its taxes on real property located in the zone as...
- Texas Section 373A.157 - Administration And Use Of Tax Increment Fund
(a) The tax increment fund is administered by the governing body of the municipality in accordance with the project and reinvestment zone financing plans. Revenue...
SUBCHAPTER E HOMESTEAD LAND BANK PROGRAM
- Texas Section 373A.158 - Annual Report
(a) If a county elects to participate in a homestead preservation reinvestment zone, the county is the only taxing unit entitled to receive the annual...
- Texas Section 373A.201 - Short Title
This subchapter may be cited as the Homestead Land Bank Program Act. Added by Acts 2005, 79th Leg., Ch. 495 (H.B. 525), Sec. 1, eff....
- Texas Section 373A.202 - Applicability
This subchapter applies only to a municipality that has designated a district under Section 373A.051. Added by Acts 2005, 79th Leg., Ch. 495 (H.B. 525),...
- Texas Section 373A.203 - Definitions
In this subchapter: (1) "Affordable" means that the monthly mortgage payment or contract rent does not exceed 30 percent of the applicable median family income...
- Texas Section 373A.204 - Homestead Land Bank Program
(a) The governing body of a municipality may adopt a homestead land bank program in which the officer charged with selling real property ordered sold...
- Texas Section 373A.205 - Qualified Participating Developer
To qualify to participate in a homestead land bank program, a developer must: (1) have developed three or more housing units within the 10-year period...
- Texas Section 373A.206 - Homestead Land Bank Plan
(a) A municipality that adopts a homestead land bank program shall operate the program in conformance with a homestead land bank plan. (b) The governing...
- Texas Section 373A.207 - Public Hearing On Proposed Plan
(a) Before adopting a plan, a municipality shall hold a public hearing on the proposed plan. (b) The city manager or the city manager's designee...
- Texas Section 373A.208 - Private Sale To Land Bank
(a) Notwithstanding any other law and except as provided by Subsection (f), property that is ordered sold pursuant to foreclosure of a tax lien may...
- Texas Section 373A.209 - Subsequent Resale By Land Bank
(a) Each subsequent resale of property acquired by a land bank under this subchapter must comply with the conditions of this section. (b) The land...
- Texas Section 373A.210 - Restrictions On Occupancy And Use Of Property
(a) The land bank shall impose deed restrictions on property sold to qualified participating developers requiring the development and sale or rental of the property...
- Texas Section 373A.211 - Right Of First Refusal
(a) In this section, "qualified organization" means a community housing development organization that: (1) contains within its designated geographical boundaries of operation, as set forth...
- Texas Section 373A.212 - Open Records And Meetings
The land bank shall comply with the requirements of Chapters 551 and 552, Government Code. Added by Acts 2005, 79th Leg., Ch. 495 (H.B. 525),...
- Texas Section 373A.213 - Records; Audit; Report
(a) The land bank shall keep accurate minutes of its meetings and shall keep accurate records and books of account that conform with generally accepted...
Last modified: September 28, 2016