Relating to multifamily residential developments financed, owned, or operated by public facility corporations.

HB 4307 modifies Texas law to set new requirements for public facility corporations developing or operating multifamily residential housing. To qualify for certain exemptions, developments must reserve 10% of units for lower-income housing and 40% for moderate-income housing, as defined in the law. Corporations must also provide 30-day written notice to local governing bodies before approving new developments or acquisitions, and meet specific rehabilitation standards for existing properties (either spending 15% of acquisition costs on repairs within three years or reserving 25% of units for lower-income housing). This bill directly affects public facility corporations managing multifamily housing projects across Texas.