LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 80TH LEGISLATIVE REGULAR SESSION

May 9, 2007

TO:	Honorable Kevin Bailey, Chair, House Committee on Urban Affairs
FROM:	John S. O'Brien, Director, Legislative Budget Board
IN RE:	SB1733 by Gallegos (Relating to certain required provisions in lease agreements used for developments that are supported with a low income housing tax credit allocation.), As Engrossed

No significant fiscal implication to the State is anticipated.

The bill would amend the Government Code to require all developments that receive or utilize housing tax credits to require their lease agreements to include any applicable federal or state standards identified by the Texas Department of Housing and Community Affairs (TDHCA) relating to termination and nonrenewal of the lease agreement and be consistent with state and federal law.

 

Based on information provided by TDHCA, it is assumed that any costs related to the duties and responsibilities associated with implementing the provisions of the bill could be covered by utilizing existing resources.

 

The bill would take effect September 1, 2007.

Local Government Impact

No fiscal implication to units of local government is anticipated.

Source Agencies:

332 Department of Housing and Community Affairs

LBB Staff:

JOB, DB, AH