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Collin County officials monitor HB 21 to close housing finance corporation tax loophole
Summary
County staff briefed commissioners on HB 21, a state bill aimed at tightening rules for housing finance corporations that county officials say can remove apartment properties from local tax rolls, and commissioners discussed possibly bringing a resolution forward in the future.
County staff updated the Collin County Commissioners Court on HB 21, a Texas House bill intended to change how housing finance corporations (HFCs) affect local property tax rolls, county officials said.
Russell Schopner, county administrator, told the court that HB 21 "in particular corrects a loophole regarding HFCs," explaining that HFC transactions can result in properties being removed from local tax rolls and that the loss can be substantial.…
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