Texas SB1492 amends the Local Government Code to revise the powers and tax exemptions of housing finance corporations.
Texas SB1492 amends the Local Government Code to revise the powers and tax exemptions of housing finance corporations. It limits the area in which a housing finance corporation may exercise its powers to the jurisdictional boundaries of the sponsoring municipality or the unincorporated areas of the sponsoring county. It allows local governments to transfer residential development sites to housing finance corporations by sale or lease.
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