Relating to the purpose of and programs administered by the Texas State Affordable Housing Corporation.

HB 1262 amends Texas law to clarify the purpose and operations of the Texas State Affordable Housing Corporation. The bill specifies that the corporation must prioritize providing housing for individuals and families with low, very low, and extremely low incomes - defined as at or below 60% of the state median income (or 50% for some multifamily units) - through mortgage lending and bond financing. Key provisions require that at least 40% of multifamily units be affordable to those at 60% median income, or 20% at 50% median income. The corporation must also partner with banks and lenders to extend credit primarily to these income groups. This bill directly affects low-income Texans seeking affordable housing options across Texas.