Texas HB1608 establishes a veterans' land bank program by the Texas State Affordable Housing Corporation to provide affordable housing for veterans.

HB1608 mandates the Texas State Affordable Housing Corporation to create a veterans' land bank program aimed at acquiring, holding, and transferring real property to offer affordable housing for veterans from low-income households. The program allows the corporation to buy properties through foreclosure or other means, imposing deed restrictions that require subsequent sales or rentals to remain with veterans in low-income households. If a property remains unsold or unleased to such veterans for ten years, it must be transferred to the U.S. Department of Housing and Urban Development.

Texas HB1608 establishes a veterans' land bank program by the Texas State Affordable Housing Corporation to provide affordable housing for veterans.

HB1608 mandates the Texas State Affordable Housing Corporation to create a veterans' land bank program aimed at acquiring, holding, and transferring real property to offer affordable housing for veterans from low-income households. The program allows the corporation to buy properties through foreclosure or other means, imposing deed restrictions that require subsequent sales or rentals to remain with veterans in low-income households. If a property remains unsold or unleased to such veterans for ten years, it must be transferred to the U.S. Department of Housing and Urban Development.