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A BILL TO BE ENTITLED
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AN ACT
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relating to applications regarding the issuance of private activity |
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bonds by certain governmental entities for projects with multiple |
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sites. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1372.002, Government Code, is amended by |
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amending Subsection (a) and adding Subsection (e) to read as |
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follows: |
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(a) For purposes of this chapter, a project is: |
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(1) an eligible facility or facilities that are |
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proposed to be financed, in whole or in part, by an issue of |
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qualified residential rental project bonds; |
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(2) in connection with an issue of qualified mortgage |
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bonds or qualified student loan bonds, the providing of financial |
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assistance to qualified mortgagors or students located in all or |
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any part of the jurisdiction of the issuer; or |
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(3) an eligible facility or facilities that are [is] |
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proposed to be financed, in whole or in part, by an issue of bonds |
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other than bonds described by Subdivision (1) or (2). |
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(e) For purposes of Subsection (a)(3), and only for |
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applications for the financing of sewage facilities, solid waste |
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disposal facilities, and qualified hazardous waste facilities, an |
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application under this chapter may include multiple facilities in |
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multiple jurisdictions. In such an application, the number of |
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facilities may be reduced as needed without affecting their status |
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as a project for purposes of the application. |
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SECTION 2. Subsection (a), Section 1372.006, Government |
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Code, is amended to read as follows: |
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(a) An application for a reservation under Subchapter B or a |
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carryforward designation under Subchapter C must be accompanied by |
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a nonrefundable fee in the amount of $500, except that: |
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(1) for projects that include multiple facilities |
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authorized under Section 1372.002(e), the application must be |
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accompanied by a nonrefundable fee in an amount of $500 for each |
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facility included in the application for the project; and |
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(2) for issuers of qualified residential rental |
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project bonds the application must be accompanied by a |
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nonrefundable fee of $5,000, of which the board shall retain $1,000 |
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to offset the costs of the private activity bond allocation program |
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and the administration of that program and of which the board shall |
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transfer $4,000 through an interagency agreement to the Texas |
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Department of Housing and Community Affairs for use in the |
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affordable housing research and information program as provided by |
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Section 2306.259. |
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SECTION 3. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2009. |