Texas HB4307 amends audit requirements for multifamily residential developments financed by public facility corporations.

Texas HB4307 amends the Local Government Code to revise audit requirements for multifamily residential developments financed, owned, or operated by public facility corporations. The bill mandates that public facility users submit annual audit reports to the Texas Department of Housing and Community Affairs and county tax assessor-collectors. These reports must be prepared by independent auditors and detail compliance with specific sections of the Local Government Code. The bill also outlines procedures for resolving noncompliance and the consequences of failing to address identified issues.

Texas HB4307 amends audit requirements for multifamily residential developments financed by public facility corporations.

Texas HB4307 amends the Local Government Code to revise audit requirements for multifamily residential developments financed, owned, or operated by public facility corporations. The bill mandates that public facility users submit annual audit reports to the Texas Department of Housing and Community Affairs and county tax assessor-collectors. These reports must be prepared by independent auditors and detail compliance with specific sections of the Local Government Code. The bill also outlines procedures for resolving noncompliance and the consequences of failing to address identified issues.