89th Legislative Session Update
The Texas Legislature's 89th Regular Session is
currently underway and TREC is actively engaged in advocating for
issues important to the commercial real estate industry. TREC
and a member-led Legislative Working Group are tracking proposed
legislation and serving as experts on issues as they arise. This
session, several bills could greatly impact the CRE industry. Here
are a few examples:
- HB 24 / SB 844: This
bill tightens and streamlines Texas's zoning petition
process, limiting protests to owner-requested rezoning or
city-initiated downzoning.
Why it matters:
This bill makes redevelopment more predictable and financially viable
by reducing small-group, last-minute objections and increasing
procedural certainty.
- HB 1585: This legislation
closes the "traveling" Housing Finance Corporation
(HFC) loophole, which allows HFCs established in one community
to take property off the tax rolls in another community with no
oversight or consent from the local entity.
Why it matters:
HFCs are crucial for supporting the development of affordable and
market-rate housing. Abuse by bad actors jeopardizes the entire
program and robs local governments of property tax revenue without
guaranteeing community benefits.
- HB 1268:
This bill relates to the creation of the Texas technology and
innovation program.
Why it Matters:This
tool assists in economic development, business expansion, and
attracts startups to Texas, stimulating economic growth and job
creation.
Learn more about
our advocacy efforts.
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