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A BILL TO BE ENTITLED
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AN ACT
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relating to the content of lease agreements of housing tax credit |
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developments regarding termination and nonrenewal |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter D, Chapter 2306, Government Code, is |
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amended by adding the following: |
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Sec. 2306.0781. LEASE PROVISIONS CONSISTENT WITH FEDERAL |
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LAW. The department by rule shall require developments that |
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receive or utilize housing tax credits to include in their lease |
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agreement standards relating to termination and nonrenewal that are |
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consistent with federal law. |
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SECTION 2. This Act takes effect September 1, 2007. Not |
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later than November 1, 2007, the department of housing and |
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community affairs shall adopt all rules required by this Act. |