{"id":2550,"date":"2021-10-20T11:22:36","date_gmt":"2021-10-20T11:22:36","guid":{"rendered":"https:\/\/frankbuysphilly.com\/affordable-housing-caught-in-a-texas-showdown\/"},"modified":"2021-10-20T11:22:36","modified_gmt":"2021-10-20T11:22:36","slug":"affordable-housing-caught-in-a-texas-showdown","status":"publish","type":"post","link":"https:\/\/frankbuysphilly.com\/affordable-housing-caught-in-a-texas-showdown\/","title":{"rendered":"Affordable housing caught in a Texas showdown"},"content":{"rendered":"


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The popularity of socially responsible investing in areas such as affordable housing has run headlong into the nation\u2019s culture wars in Texas. <\/p>\n

Four leading municipal bond underwriters recently chose to pull out of the Lone Star State\u2019s municipal bond market \u2014 among the biggest<\/a> in the nation \u2014 on the heels of two laws that went into effect in September. <\/p>\n

Texas Senate Bill 19 (SB 19) requires companies doing business with state agencies, including bonding authorities, to certify that they do not \u201cdiscriminate against the firearm or ammunition industries,\u201d according to a research report issued by the Kroll Bond Rating Agency<\/strong><\/a>. SB 13 similarly seeks to protect Texas\u2019 energy industry by barring \u201cstate investments in companies that restrict business activities with the oil and gas industry,\u201d Kroll reports.<\/p>\n

In reaction to SB 19, JPMorgan Chase<\/strong><\/a>, Citigroup<\/strong> and Bank of America<\/strong><\/a> recently elected to pause participating in the Lone Star State\u2019s municipal bond market because \u201cthey could not certify compliance with the new law,\u201d according to Kroll<\/a>. All three have adopted investment or other policies in the wake of mass shootings that set restrictions on the firearms industry. A recent report by Bloomberg<\/a> indicates Goldman Sachs<\/strong>, likewise, has elected to pause activity in the Texas\u2019 municipal bond market.<\/p>\n

The affordable-housing market in Texas is supported, in part, by tax-exempt bonds issued by the Texas Department of Housing and Community Affairs<\/strong> (TDHCA) and the nonprofit Texas State Affordable Housing Corp.<\/strong> (TSAHC). Their programs help to fund first-time homebuyer initiatives as well as single-family and multifamily affordable-housing projects, among other efforts.\u00a0<\/p>\n

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    The post Affordable housing caught in a Texas showdown<\/a> appeared first on HousingWire<\/a>.<\/p>\n


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    The popularity of socially responsible investing in areas such as affordable housing has run headlong into the nation\u2019s culture wars in Texas.  Four leading municipal bond underwriters recently chose to pull out of the Lone Star State\u2019s municipal bond market \u2014 among the biggest in the nation \u2014 on the heels of two laws that […]<\/p>\n","protected":false},"author":2,"featured_media":2364,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33,1],"tags":[],"_links":{"self":[{"href":"https:\/\/frankbuysphilly.com\/wp-json\/wp\/v2\/posts\/2550"}],"collection":[{"href":"https:\/\/frankbuysphilly.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/frankbuysphilly.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/frankbuysphilly.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/frankbuysphilly.com\/wp-json\/wp\/v2\/comments?post=2550"}],"version-history":[{"count":0,"href":"https:\/\/frankbuysphilly.com\/wp-json\/wp\/v2\/posts\/2550\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/frankbuysphilly.com\/wp-json\/wp\/v2\/media\/2364"}],"wp:attachment":[{"href":"https:\/\/frankbuysphilly.com\/wp-json\/wp\/v2\/media?parent=2550"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/frankbuysphilly.com\/wp-json\/wp\/v2\/categories?post=2550"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/frankbuysphilly.com\/wp-json\/wp\/v2\/tags?post=2550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}