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Floor Packet Page No. 33
Amend CSHB 3 by adding the following on page 23 between lines
14 and 15:
(k-1) A taxable entity shall exclude from its total revenue,
to the extent included under Subsection (c)(1)(A), (c)(2)(A), or
(c)(3), all rents and other fees collected from rental property if:
(1) the taxable entity is the owner of the rental
property;
(2) the rental property is financed under the federal
low income housing tax credit program under Subchapter DD, Chapter
2306, Government Code; and
(3) the rents and other fees are paid by a low-income
or moderate-income individual or family that meets the eligibility
requirements of the low income housing tax credit program.