Texas HB1595 amends tax exemption rules for public housing authorities, requiring audits and fee submissions.

Texas HB1595 amends the Local Government Code to revise tax exemption rules for public housing authorities. It mandates that authorities claiming a property-based exemption for multifamily residential developments must annually submit an audit report for a compliance audit. The audit must be conducted by an independent auditor or compliance expert and submitted to the Texas Department of Housing and Community Affairs and the chief appraiser of the applicable appraisal district. The bill also allows the department to charge a fee for the submission of an audit report.

Texas HB1595 amends tax exemption rules for public housing authorities, requiring audits and fee submissions.

Texas HB1595 amends the Local Government Code to revise tax exemption rules for public housing authorities. It mandates that authorities claiming a property-based exemption for multifamily residential developments must annually submit an audit report for a compliance audit. The audit must be conducted by an independent auditor or compliance expert and submitted to the Texas Department of Housing and Community Affairs and the chief appraiser of the applicable appraisal district. The bill also allows the department to charge a fee for the submission of an audit report.