|
|
|
A BILL TO BE ENTITLED
|
|
AN ACT
|
|
relating to the system by which an application for a low income |
|
housing tax credit is scored. |
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
SECTION 1. Section 2306.6710(b), Government Code, is |
|
amended to read as follows: |
|
(b) If an application satisfies the threshold criteria, the |
|
department shall score and rank the application using a point |
|
system that: |
|
(1) prioritizes in descending order criteria |
|
regarding: |
|
(A) financial feasibility of the development |
|
based on the supporting financial data required in the application |
|
that will include a project underwriting pro forma from the |
|
permanent or construction lender; |
|
(B) the level of neighborhood support for |
|
[quantifiable community participation with respect to] the |
|
development, evaluated on the basis of written statements from any |
|
neighborhood organizations on record with the state or county in |
|
which the development is to be located and whose boundaries contain |
|
the proposed development site; |
|
(C) the income levels of tenants of the |
|
development; |
|
(D) the size and quality of the units; |
|
(E) the commitment of development funding by |
|
local political subdivisions; |
|
(F) the level of community support for the |
|
application, which must be evaluated on the basis of: |
|
(i) a resolution concerning the development |
|
that is voted on and adopted by the governing body of a municipality |
|
whose boundaries contain [written statements from the state
|
|
representative or the state senator that represents the district
|
|
containing] the proposed development site or by the commissioners |
|
court of a county whose boundaries contain the proposed development |
|
site; and |
|
(ii) the commitment of development funding |
|
by the municipality or county; |
|
(G) the rent levels of the units; |
|
(H) the cost of the development by square foot; |
|
(I) the services to be provided to tenants of the |
|
development; and |
|
(J) whether, at the time the complete application |
|
is submitted or at any time within the two-year period preceding the |
|
date of submission, the proposed development site is located in an |
|
area declared to be a disaster under Section 418.014; |
|
(2) uses criteria imposing penalties on applicants or |
|
affiliates who have requested extensions of department deadlines |
|
relating to developments supported by housing tax credit |
|
allocations made in the application round preceding the current |
|
round or a developer or principal of the applicant that has been |
|
removed by the lender, equity provider, or limited partners for its |
|
failure to perform its obligations under the loan documents or |
|
limited partnership agreement; and |
|
(3) encourages applicants to provide free notary |
|
public service to the residents of the developments for which the |
|
allocation of housing tax credits is requested. |
|
SECTION 2. Section 2306.6710(f), Government Code, is |
|
repealed. |
|
SECTION 3. The change in law made by this Act applies only |
|
to an application for a low income housing tax credit filed on or |
|
after the effective date of this Act. An application filed before |
|
the effective date of this Act is governed by the law in effect on |
|
the date the application was filed, and the former law is continued |
|
in effect for that purpose. |
|
SECTION 4. This Act takes effect September 1, 2013. |