Relating to multifamily residential developments owned by public facility corporations.

HB 3532 modifies tax exemption rules for multifamily housing developments owned by public facility corporations in Texas. It requires these developments to reserve at least 10% of units for low-income housing and 40% for moderate-income housing to qualify for property tax exemptions. The bill also mandates 30-day written notice to local governments before development approval and requires governing body (municipality or county) approval for new projects. These provisions directly affect public facility corporations developing income-targeted housing, changing how they access tax benefits under Local Government Code Section 303.0421.