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AN ACT
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relating to low income housing tax credits awarded for certain |
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developments. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 2306.6711, Government Code, is amended |
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by adding Subsection (g) to read as follows: |
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(g) Except as necessary to comply with the nonprofit |
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set-aside required by Section 42(h)(5), Internal Revenue Code of |
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1986 (26 U.S.C. Section 42(h)(5)), in an urban subregion of a |
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uniform state service region that contains a county with a |
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population of more than 1.7 million, the board shall allocate |
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housing tax credits to the highest scoring development, if any, |
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that is part of a concerted plan of revitalization and is located in |
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that urban subregion in a municipality with a population of 500,000 |
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or more. |
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SECTION 2. The change in law made by this Act applies only |
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to the allocation of low income housing tax credits for an |
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application cycle that begins on or after January 1, 2017. The |
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allocation of low income housing tax credits for an application |
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cycle that begins before January 1, 2017, is governed by the law in |
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effect on the date the application cycle began, and the former law |
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is continued in effect for that purpose. |
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SECTION 3. This Act takes effect September 1, 2015. |
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______________________________ |
______________________________ |
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President of the Senate |
Speaker of the House |
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I certify that H.B. No. 3535 was passed by the House on May 5, |
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2015, by the following vote: Yeas 130, Nays 15, 2 present, not |
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voting; that the House refused to concur in Senate amendments to |
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H.B. No. 3535 on May 27, 2015, and requested the appointment of a |
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conference committee to consider the differences between the two |
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houses; and that the House adopted the conference committee report |
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on H.B. No. 3535 on May 31, 2015, by the following vote: Yeas 79, |
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Nays 63, 3 present, not voting. |
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______________________________ |
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Chief Clerk of the House |
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I certify that H.B. No. 3535 was passed by the Senate, with |
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amendments, on May 24, 2015, by the following vote: Yeas 19, Nays |
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11; at the request of the House, the Senate appointed a conference |
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committee to consider the differences between the two houses; and |
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that the Senate adopted the conference committee report on H.B. No. |
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3535 on May 30, 2015, by the following vote: Yeas 23, Nays 8. |
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______________________________ |
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Secretary of the Senate |
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APPROVED: __________________ |
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Date |
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__________________ |
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Governor |