{"data":{"id":"us-tx/tex.-local-government-code-394.9025","jurisdiction":"us-tx","citation":"Tex. Local Government Code § 394.9025","heading":"MULTIFAMILY RESIDENTIAL DEVELOPMENT.","body":"(a) Following a public hearing by the governing body of the applicable local government, a housing finance corporation may, subject to the geographic limitations of Section 394.037(a-1), issue bonds to finance a multifamily residential development to be owned by the housing finance corporation if:\n(1) at least 50 percent of the units in the multifamily residential development are reserved for occupancy by individuals and families earning less than 80 percent of the area median family income; or\n(2) the units in the multifamily residential development are reserved in the manner provided by Section 394.9026(c)(1).\n(b) Following a public hearing by the governing body of the applicable local government, a housing finance corporation may, subject to the geographic limitations of Section 394.037(a-1), issue bonds to finance a multifamily residential development to be owned by the housing finance corporation in accordance with Section 394.004 if the housing finance corporation receives approval of the governing body of the local government.\nAdded by Acts 2001, 77th Leg., ch. 1493, Sec. 3, eff. Aug. 31, 2002.\nAmended by:\nActs 2025, 89th Leg., R.S., Ch. 208 (H.B. 21), Sec. 8, eff. May 28, 2025.","path":["LOCAL GOVERNMENT CODE","TITLE 12. PLANNING AND DEVELOPMENT","SUBTITLE C. PLANNING AND DEVELOPMENT PROVISIONS APPLYING TO MORE THAN ONE TYPE OF LOCAL GOVERNMENT","CHAPTER 394. HOUSING FINANCE CORPORATIONS IN MUNICIPALITIES AND COUNTIES","SUBCHAPTER Z. MISCELLANEOUS PROVISIONS"],"source_url":"https://statutes.capitol.texas.gov/Docs/LG/htm/LG.394.htm#394.9025","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:27Z","sha256":"4f591824f111291b0042aef4e4a75c93cdbb2f8f43215aaa1ce3de2b6d23549c","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-local-government-code-394.902","next":"us-tx/tex.-local-government-code-394.9026"},"notice":"GroundRules: Original legal text. Not legal advice."}