In response to the complex housing situation intensified by federal funding losses, the state legislature, led by Governor Ferguson, passed a rent-cap law to curb rising housing costs. H.B. 1217, the most controversial bill, introduces a cap of 10% on rent increases annually, adjusted with the consumer price index, effective for 15 years. Critics argue this may worsen a serious housing shortage. Additionally, provisions support disabled veterans with property tax relief, while H.B. 1106 and S.B. 5184 aim to streamline housing development processes amidst ongoing debates over regulations and supply constraints.
The new rent-cap law, initially proposing a 7% limit on rent increases, now allows for a 10% rise based on the consumer price index, set to expire in 15 years.
Opponents of the rent cap argue that it may worsen the existing shortage of 1 million housing units in the state, deterring landlords from developing new units.
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