TX SB2976

Housing finance corporations sponsored by a municipality are restricted to operating only within that municipality's jurisdictional boundaries, while county-sponsored corporations are limited to unincorporated areas of their sponsoring county

Corporations sponsored by multiple local governments may operate within the jurisdictional boundaries of each municipal sponsor and the unincorporated areas of each county sponsor

Removes previous authority allowing housing finance corporations to delegate powers to the Texas Department of Housing and Community Affairs for activities "outside" their jurisdiction, limiting delegation to within their jurisdiction only

Tax and fee exemptions for housing finance corporations (including property taxes, license fees, and recording fees) now apply only when the property, development, or facility is located within the corporation's authorized area of operation

New limitations apply prospectively to powers exercised and residential developments acquired or newly built after the effective date, with existing arrangements governed by former law