78R13759 E
By: Jones of Dallas H.B. No. 2308
A BILL TO BE ENTITLED
AN ACT
relating to ineligibility for participation in the low income
housing tax credit program.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter DD, Chapter 2306, Government Code, is
amended by adding Section 2306.67035 to read as follows:
Sec. 2306.67035. REGULATION OF LOCATION OF CERTAIN
DEVELOPMENTS. (a) The department by rule shall develop
appropriate guidelines under the low income housing tax credit
program in which the applicant proposes to construct a new
development that is located one linear mile or less from a
development that:
(1) serves the same type of household as the new
development, regardless of whether the developments serve
families, elderly individuals, or another type of household;
(2) has received an allocation of housing tax credits
for new construction at any time during the three-year period
preceding the date the application round begins; and
(3) has not been withdrawn or terminated from the low
income housing tax credit program.
(b) A rule adopted by the department under Subsection (a)
must exempt a development:
(1) that is using:
(A) federal HOPE VI funds received through the
United States Department of Housing and Urban Development; or
(B) locally approved funds received from a public
improvement district or a tax increment financing district; or
(2) that is located outside of a metropolitan
statistical area.
SECTION 2. This Act takes effect September 1, 2003.