TX HB21

Limits housing finance corporations' geographic operating area to the boundaries of their sponsoring municipality or county, requiring approval from affected local governments to operate outside those boundaries

Requires housing finance corporations to comply with Texas Open Meetings (Chapter 551) and Public Information (Chapter 552) laws for all actions, proceedings, and records

Establishes income-based affordability requirements for multifamily developments seeking ad valorem tax exemptions: at least 10% of units must be reserved for households at 60% or below area median income (AMI), with 40% reserved for households at 80% AMI or below

Sets maximum rent caps for income-restricted units at 30% of the applicable AMI threshold and requires developments to accept housing choice voucher program participants without discriminatory income standards

Mandates annual compliance audits by independent auditors submitted to the Texas Department of Housing and Community Affairs, with noncompliance resulting in loss of tax exemptions after a 180-day cure period