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Senate Bill 1238 |
Senate Author: Rodríguez |
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Effective: 6-12-17 |
House Sponsor: Moody |
Senate Bill 1238 amends the Government Code to extend eligibility for low income housing tax credits set aside for at-risk developments to a development that proposes to rehabilitate or reconstruct certain housing units that are owned by or that are proposed to be or have been disposed of or demolished by a public facility corporation created by a public housing authority. The bill establishes that certain at-risk developments that were previously allocated set-aside housing tax credits do not lose eligibility for those credits if the portion of units reserved for public housing as a condition of eligibility for the credits are later converted under the Rental Assistance Demonstration program administered by the U.S. Department of Housing and Urban Development.