TX SB2605

Authorizes municipal housing authorities in counties with 800,000+ population on the international border (and municipalities with 600,000+ population within such counties) to create an asset commission by resolution

Asset commission consists of 5 members serving staggered 5-year terms, appointed by majority vote of the housing authority commissioners, with required professional qualifications including licensed real estate brokers, CPAs, attorneys specializing in real estate law, or executives with multifamily housing experience

At least one commission member must have 10+ years of experience managing apartments funded by low-income housing tax credits

Commission must approve by majority vote any acquisition, sale, transfer, or disposition of housing authority property valued over $100,000, as well as any financing, refinancing, or bond issuance secured by authority assets

Prohibits elected officials, local government employees, current housing authority commissioners/employees, former employees within 2 years, and anyone with recent contracts or financial interests with the authority from serving on the commission