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Senate Bill 1315 |
Senate Author: Watson et al. |
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Effective: 9-1-15 |
House Sponsor: Anchia |
Previous law considered as an at-risk development for purposes of the low income housing tax program a development subject to the condition that the federally insured mortgage on the development be eligible for prepayment or nearing the end of its term. Senate Bill 1315 amends the Government Code to change that condition from the mortgage being a federally insured mortgage to it being a HUD-insured or HUD-held mortgage.