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Tax credits for affordable housing among slate of 30 new Texas laws

Man on house framing
House Bill 1058 is one of 30 new bills that went into effect on January 1. Photo courtesy of KVUE

A bill that aims to boost low-income housing developments became law this week.

House Bill 1058 is one of 30 new bills that went into effect on January 1. It offers low-income housing tax credits for certain housing developments.

According to the Texas Affiliation of Affordable Housing Providers, every metro area in the country has a shortage of affordable and available rental homes for extremely low-income renters.

Here's what the affordable housing crisis looks like by the numbers in our state.

According to the National Low Income Housing Coalition, there are 904,814 extremely low-income renter households in Texas, with 230,166 affordable and available rental homes.

In the Austin-Round Rock-Georgetown metro area, the coalition's data showed 83,965 extremely low-income renter households with 13,601 affordable and available rental homes. The data is from 2021.

The group ranked Austin as the third-worst metro area in the country for affordable housing.One of the bill's authors, State Rep. Craig Goldman, previously said this legislation is aimed at bridging the gap for so many.

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Read the full story and watch the video at KVUE.com.

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