By Hill H.B. No. 3058 76R2838 KEL-D A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to requiring review and approval from the Texas Department 1-3 of Housing and Community Affairs of certain applications for 1-4 reservations of tax-exempt bonding authority. 1-5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-6 SECTION 1. Section 3, Chapter 1092, Acts of the 70th 1-7 Legislature, Regular Session, 1987 (Article 5190.9a, Vernon's Texas 1-8 Civil Statutes), is amended by adding Subsection (h) to read as 1-9 follows: 1-10 (h) An application for a reservation under Section 2(b)(4) 1-11 of this Act must receive underwriting and feasibility approval from 1-12 the Texas Department of Housing and Community Affairs of the 1-13 project proposed to be financed by the issue of bonds before the 1-14 application is eligible for a reservation under this Act. The 1-15 department by rule shall determine the date by which an application 1-16 must be submitted to the department to receive the underwriting and 1-17 feasibility analysis required by this subsection. 1-18 SECTION 2. The change in law made by this Act applies only 1-19 to an application for a reservation of a portion of the state's 1-20 total tax-exempt private activity bonding authority available after 1-21 January 1, 2000. 1-22 SECTION 3. The importance of this legislation and the 1-23 crowded condition of the calendars in both houses create an 1-24 emergency and an imperative public necessity that the 2-1 constitutional rule requiring bills to be read on three several 2-2 days in each house be suspended, and this rule is hereby suspended, 2-3 and that this Act take effect and be in force from and after its 2-4 passage, and it is so enacted.