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A BILL TO BE ENTITLED
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AN ACT
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relating to certain required provisions in lease agreements used |
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for developments that are supported with a low income housing tax |
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credit allocation. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter DD, Chapter 2306, Government Code, is |
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amended by adding Section 2306.6735 to read as follows: |
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Sec. 2306.6735. REQUIRED LEASE AGREEMENT PROVISIONS. A |
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lease agreement with a tenant in a development supported with a |
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housing tax credit allocation must: |
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(1) include any applicable federal or state standards |
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identified by department rule that relate to the termination or |
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nonrenewal of the lease agreement; and |
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(2) be consistent with state and federal law. |
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SECTION 2. The Texas Department of Housing and Community |
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Affairs shall adopt any rules necessary to enforce Section |
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2306.6735, Government Code, as added by this Act, not later than |
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November 1, 2007. |
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SECTION 3. This Act takes effect September 1, 2007. |