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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. Schopner said the office is tracking the bill’s progress and had circulated a memo on several bills the county is watching.
The court discussed the potential local impact if the bill passes. Judge Hill said he agreed with Commissioner Fletcher that the proposal is worth supporting, saying, "This is a good bill." Court members asked staff to continue monitoring HB 21 and to alert the court if a formal resolution or other action would be appropriate as the legislative process unfolds.
Schopner summarized recent procedural developments he had tracked: Speaker Burrows assigned the House bill number 21, and in the Senate the bill had not yet received a low-number reservation; Schopner noted the possibility that a senator identified in the discussion, Bettencourt, could press the measure in the Senate. He cautioned the court that the lieutenant governor’s reservation of Senate bill numbers was still unfinished, which could affect scheduling.
No formal county action on HB 21 was taken during the meeting. A court member asked staff to prepare material so the commissioners could consider a future proposal or resolution in support of the bill if warranted by developments in Austin.
The update was part of the court’s regular briefing on the 89th Texas Legislature; court members said they relied on staff to recommend when formal county positions should be adopted.
