| |
| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
|
|
relating to the allocation of low income housing tax credits. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Section 2306.67022, Government Code, is amended |
|
|
to read as follows: |
|
|
Sec. 2306.67022. QUALIFIED ALLOCATION PLAN; MANUAL. The |
|
|
[At least biennially, the] board biennially shall adopt a qualified |
|
|
allocation plan and a corresponding manual to provide information |
|
|
regarding the administration of and eligibility for the low income |
|
|
housing tax credit program. The board may not adopt a [the] plan |
|
|
and manual more frequently than once during each biennium |
|
|
[annually, as considered appropriate by the board]. |
|
|
SECTION 2. The change in law made by this Act applies only |
|
|
to an application for low income housing tax credits that is |
|
|
submitted to the Texas Department of Housing and Community Affairs |
|
|
during an application cycle that is based on the 2020 qualified |
|
|
allocation plan or a subsequent plan adopted by the governing board |
|
|
of the department under Section 2306.67022, Government Code, as |
|
|
amended by this Act. An application that is submitted during an |
|
|
application cycle that is based on an earlier qualified allocation |
|
|
plan is governed by the law in effect on the date the application |
|
|
cycle began, and the former law is continued in effect for that |
|
|
purpose. |
|
|
SECTION 3. This Act takes effect September 1, 2021. |