Relating to housing finance corporations.

SB 2258 defines "low income" as an annual income not exceeding 60% of either the area median income (adjusted for family size) or statewide median income (per HUD standards), and "moderate income" as 80% of those same measures. It also restricts housing finance corporations to operating within the boundaries of their sponsoring local governments (municipal or county) unless they obtain approval from all involved local governments and existing corporations in the area. This bill directly affects housing finance corporations by standardizing income eligibility criteria for housing assistance programs and clarifying their geographic service areas. The policy changes apply to all housing finance corporations operating under Texas law.