Two Texas Senate bills seek to endow housing trust with $40 million per year

In response to requests by housing advocates who came together two weeks ago to support a dedicated fee bill to endow the Texas Housing Trust Fund with $40 million per year, two such bills have been filed by Texas Senators.

Senator Eddie Lucio (D) – Brownsville filed SB 934 which would endow the housing trust fund with the proceeds of a real estate document filing fee of $10 per document. Housing Texas estimates this would yield between $35 and $40 million per year. Senator Lucio lead the successful effort last session to double the state’s annual contribution to the housing trust fund.

Senator Royce West (D) – Dallas filed SB 950 which also would provide a $10 per document filing fee.  Senator West is the chairman of the Senate Intergovernmental Relations Committee which held interim hearings on a revenue source for the housing trust fund.

Similar legislation in expected to be filed in the Texas House in coming days.