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A BILL TO BE ENTITLED
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AN ACT
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relating to the allocation of low income housing tax credits set |
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aside for at-risk developments. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 2306.6714, Government Code, is amended |
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by adding Subsection (c) to read as follows: |
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(c) Except as otherwise provided by federal law and |
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notwithstanding any other provision of this chapter, in allocating |
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housing tax credits set aside under Subsection (a), the department |
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may not consider: |
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(1) the poverty rate or area median income in the |
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census tract in which the development is located; or |
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(2) the presence of blight three miles or less from the |
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development. |
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SECTION 2. The change in law made by this Act applies only |
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to low income housing tax credits that are awarded by the Texas |
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Department of Housing and Community Affairs during an application |
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cycle that begins on or after the effective date of this Act. A low |
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income housing tax credit that is awarded |
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during an application |
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cycle that began before the effective date of this Act is governed |
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by the law in effect on the date the application cycle began, and |
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the former law is continued in effect for that purpose. |
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SECTION 3. This Act takes effect September 1, 2015. |