Establishes the Housing Texas Fund to support affordable housing and prevent homelessness.
The bill creates the Housing Texas Fund, administered by the Texas Department of Housing and Community Affairs. The fund will receive money from various sources, including appropriations, transfers, interest, and donations. The Department will allocate 90% of the fund to support nonprofit developers of affordable housing, 9% to nonprofits aiding individuals recently released from prison or jail, and 1% to nonprofits preventing homelessness or facilitating quick transitions into stable housing.
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