SB 17 – Restricting Foreign Ownership of Real Property
Prohibits people or entities tied to certain foreign countries (designated as national security risks, like China, Iran, North Korea, Russia) from acquiring “interests in real property” in Texas, including residential, commercial, agricultural, water rights, mineral rights, etc.
There are exceptions: U.S. citizens, lawful permanent residents; entities entirely owned/controlled by such persons; short leases under one year; residential homestead when lawfully present and living in the U.S. as a primary residence.
Violations can result in criminal or civil penalties (for individuals and entities); lawsuits, potential forced divestiture; actions by Attorney General.
SB 840 – Zoning / Mixed-Use / Multifamily Facilitation
Aimed at reducing regulatory barriers in certain municipalities (those with population ≥ 150,000 in some counties).
Requires that municipalities allow mixed-use or multifamily development on land already zoned for office, commercial, retail, warehouse, or mixed-use. Also easing or limiting certain requirements (height, setback, density, parking, floor area) for these qualifying developments.
Also facilitates adaptive reuse: converting office/retail/warehouse into multifamily or mixed-use. Some traffic impact analyses, design standards, impact fees, etc., may be reduced or waived in certain cases.
SB 15 – Affordable Housing Aid (in brief)
Part of the package affecting housing affordability. Together with SB 840, helps speed up development of homes by easing regulatory friction.
(Note: SB 15’s provisions are related mostly to developer incentives / regulatory relief rather than direct restrictions or bans.
HB 21 – Changes to Property Tax Exemptions for Affordable Housing/ Housing Finance Corporations (HFCs)
Though this bill was effective immediately or earlier, its implications touch real estate: it limits what “traveling HFCs” can do (i.e. Housing Finance Corporations operating outside their founding jurisdictions) to acquire or claim property tax-exempt status without local approvals.
It also imposes stricter affordability requirements for projects to qualify / retain exemptions. Projects already in existence must get local approval by January 1, 2027, or risk losing tax exemption.
