Texas SB2976 amends the Local Government Code to restrict housing finance corporations' areas of operation.

Texas SB2976 amends the Local Government Code to limit the areas in which housing finance corporations can exercise their powers. Specifically, a corporation sponsored by a municipality can only operate within the municipality's jurisdictional boundaries, while a corporation sponsored by a county can only operate in the county's unincorporated areas. Corporations sponsored by multiple local governments can operate in the combined areas of their sponsors. The bill also specifies that these corporations can lend money, invest funds, and hold property as security for loans.

Texas SB2976 amends the Local Government Code to restrict housing finance corporations' areas of operation.

Texas SB2976 amends the Local Government Code to limit the areas in which housing finance corporations can exercise their powers. Specifically, a corporation sponsored by a municipality can only operate within the municipality's jurisdictional boundaries, while a corporation sponsored by a county can only operate in the county's unincorporated areas. Corporations sponsored by multiple local governments can operate in the combined areas of their sponsors. The bill also specifies that these corporations can lend money, invest funds, and hold property as security for loans.