Amend CSHB 2608 (house committee report) as follows:

(1)  Add the following appropriately numbered SECTION to ARTICLE 3 of the bill and renumber subsequent SECTIONS of that ARTICLE accordingly:

SECTION 3.___.  Section 2306.6702(a)(5), Government Code, is amended to read as follows:

(5)  "At-risk development" means:

(A)  a development that:

(i) [(A)]  has received the benefit of a subsidy in the form of a below-market interest rate loan, interest rate reduction, rental subsidy, Section 8 housing assistance payment, rental supplement payment, rental assistance payment, or equity incentive under the following federal laws, as applicable:

(a) [(i)]  Sections 221(d)(3) and (5), National Housing Act (12 U.S.C. Section 1715l);

(b) [(ii)]  Section 236, National Housing Act (12 U.S.C. Section 1715z-1);

(c) [(iii)]  Section 202, Housing Act of 1959 (12 U.S.C. Section 1701q);

(d) [(iv)]  Section 101, Housing and Urban Development Act of 1965 (12 U.S.C. Section 1701s);

(e) [(v)]  the Section 8 Additional Assistance Program for housing developments with HUD-Insured and HUD-Held Mortgages administered by the United States Department of Housing and Urban Development;

(f) [(vi)]  the Section 8 Housing Assistance Program for the Disposition of HUD-Owned Projects administered by the United States Department of Housing and Urban Development;

(g) [(vii)]  Sections 514, 515, and 516, Housing Act of 1949 (42 U.S.C. Sections 1484, 1485, and 1486); or

(h) [(viii)]  Section 42, Internal Revenue Code of 1986 (26 U.S.C. Section 42); and

(ii) [(B)]  is subject to the following conditions:

(a) [(i)]  the stipulation to maintain affordability in the contract granting the subsidy is nearing expiration; or

(b) [(ii)]  the federally insured mortgage on the development is eligible for prepayment or is nearing the end of its term; or

(b)  have been disposed of or demolished by a public housing authority in the two-year period preceding the application for housing tax credits.

(2)  Add the following appropriately numbered SECTION to ARTICLE 5 of the bill and renumber subsequent SECTIONS of that ARTICLE accordingly:

SECTION 5.___.  The change in law made by this Act in amending Section 2306.6702(a)(5), Government Code, applies only to an application for low income housing tax credits that is submitted on or after the effective date of this Act. An application for low income housing tax credits that is submitted before the effective date of this Act is governed by the law in effect when the application was submitted, and the former law is continued in effect for that purpose.