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A BILL TO BE ENTITLED
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AN ACT
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relating to notification requirements for applicants for low income |
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housing tax credits. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 2306.6704(b-1), Government Code, is |
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amended to read as follows: |
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(b-1) The preapplication process must require the applicant |
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to provide the department with evidence that the applicant has |
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notified by certified mail the following entities with respect to |
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the filing of the application: |
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(1) any neighborhood organizations on record with the |
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state or county in which the development is to be located and whose |
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boundaries contain the proposed development site; |
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(2) the superintendent and the presiding officer of |
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the board of trustees of the school district containing the |
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development; |
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(3) the presiding officer of the governing body of any |
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municipality containing the development and all elected members of |
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that body; |
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(4) the presiding officer of the governing body of the |
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county containing the development and all elected members of that |
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body; and |
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(5) the state senator and state representative of the |
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district containing the development. |
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SECTION 2. Section 2306.6705, Government Code, is amended |
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to read as follows: |
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Sec. 2306.6705. GENERAL APPLICATION REQUIREMENTS. An |
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application must contain at a minimum the following written, |
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detailed information in a form prescribed by the board: |
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(1) a description of: |
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(A) the financing plan for the development, |
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including any nontraditional financing arrangements; |
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(B) the use of funds with respect to the |
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development; |
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(C) the funding sources for the development, |
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including: |
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(i) construction, permanent, and bridge |
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loans; and |
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(ii) rents, operating subsidies, and |
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replacement reserves; and |
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(D) the commitment status of the funding sources |
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for the development; |
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(2) if syndication costs are included in the eligible |
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basis, a justification of the syndication costs for each cost |
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category by an attorney or accountant specializing in tax matters; |
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(3) from a syndicator or a financial consultant of the |
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applicant, an estimate of the amount of equity dollars expected to |
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be raised for the development in conjunction with the amount of |
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housing tax credits requested for allocation to the applicant, |
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including: |
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(A) pay-in schedules; and |
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(B) syndicator consulting fees and other |
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syndication costs; |
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(4) if rental assistance, an operating subsidy, or an |
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annuity is proposed for the development, any related contract or |
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other agreement securing those funds and an identification of: |
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(A) the source and annual amount of the funds; |
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(B) the number of units receiving the funds; and |
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(C) the term and expiration date of the contract |
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or other agreement; |
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(5) if the development is located within the |
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boundaries of a political subdivision with a zoning ordinance, |
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evidence in the form of a letter from the chief executive officer of |
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the political subdivision or from another local official with |
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jurisdiction over zoning matters that states that: |
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(A) the development is permitted under the |
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provisions of the ordinance that apply to the location of the |
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development; or |
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(B) the applicant is in the process of seeking |
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the appropriate zoning and has signed and provided to the political |
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subdivision a release agreeing to hold the political subdivision |
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and all other parties harmless in the event that the appropriate |
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zoning is denied; |
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(6) if an occupied development is proposed for |
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rehabilitation: |
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(A) an explanation of the process used to notify |
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and consult with the tenants in preparing the application; |
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(B) a relocation plan outlining: |
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(i) relocation requirements; and |
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(ii) a budget with an identified funding |
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source; and |
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(C) if applicable, evidence that the relocation |
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plan has been submitted to the appropriate local agency; |
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(7) a certification of the applicant's compliance with |
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appropriate state and federal laws, as required by other state law |
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or by the board; |
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(8) any other information required by the board in the |
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qualified allocation plan; and |
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(9) evidence that the applicant has notified by |
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certified mail the following entities with respect to the filing of |
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the application: |
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(A) any neighborhood organizations on record |
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with the state or county in which the development is to be located |
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and whose boundaries contain the proposed development site; |
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(B) the superintendent and the presiding officer |
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of the board of trustees of the school district containing the |
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development; |
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(C) the presiding officer of the governing body |
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of any municipality containing the development and all elected |
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members of that body; |
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(D) the presiding officer of the governing body |
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of the county containing the development and all elected members of |
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that body; and |
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(E) the state senator and state representative of |
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the district containing the development. |
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SECTION 3. The changes in law made by this Act apply only to |
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an application for low income housing tax credits that is submitted |
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to the Texas Department of Housing and Community Affairs during an |
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application cycle that begins on or after the effective date of this |
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Act. An application that is submitted during an application cycle |
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that began before the effective date of this Act is governed by the |
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law in effect at the time the application cycle began, and the |
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former law is continued in effect for that purpose. |
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SECTION 4. This Act takes effect September 1, 2009. |