Texas § GV.2306.563 - PUBLIC BENEFIT REQUIREMENT
Full text of Texas The Texas Constitution § GV.2306.563 — PUBLIC BENEFIT REQUIREMENT, with citation guidance and answers to common questions.
§ GV.2306.563. PUBLIC BENEFIT REQUIREMENT
PUBLIC BENEFIT REQUIREMENT. (a) The corporation shall implement a requirement that a community housing development organization that receives an issuance of qualified 501(c)(3) bonds from the corporation to develop property must invest at least one dollar in projects and services that benefit income-eligible persons for each dollar of taxes that is not imposed on the property as a result of a property tax exemption received under Section 11.182 , Tax Code. (b) The projects and services must benefit income-eligible persons in the county in which the property supported with the tax exemption is located. (c) The projects and services must consist of: (1) rent reduction; (2) capital improvement projects; or (3) social, educational, or economic development services. (d) The corporation and the organization may determine on a case-by-case basis the specific projects and services in which the organization must invest under this section. (e) The dollar-for-dollar public benefit requirement imposed by this section shall be reduced by an amount equal to each dollar that, in lieu of taxes, a community housing development organization pays to a taxing unit for which the property receives an exemption under Section 11.182 , Tax Code. (f) In implementing the public benefit requirement, the corporation shall adopt guidelines for reasonable rent reductions, capital improvement projects, and social, educational, and economic development services. Added by Acts 2003, 78th Leg., ch. 332, Sec. 16, eff. Sept. 1, 2003. For text of section as added by Acts 2003, 78th Leg., ch. 1050, Sec. 3, see Sec. 2306.563 , ante.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § GV.2306.563
What does The Texas Constitution § GV.2306.563 cover?
Section GV.2306.563 ("PUBLIC BENEFIT REQUIREMENT") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § GV.2306.563?
A common citation format is "The Texas Constitution § GV.2306.563" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § GV.2306.563 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.