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A BILL TO BE ENTITLED
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AN ACT
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relating to certain qualified residential rental assistance |
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projects financed by private activity bonds. |
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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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adding Subsection (f) to read as follows: |
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(f) Notwithstanding Subsection (c), an applicant to which |
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this subsection applies may aggregate more than one qualified |
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residential rental project into a single, combined project as part |
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of the participation of the housing authority for the applicable |
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municipality in the Rental Assistance Demonstration program |
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administered by the United States Department of Housing and Urban |
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Development, as specified by the Consolidated and Further |
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Continuing Appropriations Act of 2012 (Pub. L. No. 112-55) and its |
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subsequent amendments, if the combined project is related to the |
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municipal housing authority's conversion of public housing units as |
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permitted under that program. |
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SECTION 2. Section 1372.006(a), Government Code, is amended |
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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; and |
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(3) for a combined project that includes multiple |
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qualified residential rental projects authorized under Section |
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1372.002(f), the application must be accompanied by a nonrefundable |
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fee in an amount of $5,000 for each qualified residential rental |
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project included in the application for the combined project, the |
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total amount of which the board shall retain 20 percent to offset |
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the costs of the private activity bond allocation program and the |
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administration of that program and of which the board shall |
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transfer 80 percent 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. The change in law made by this Act in amending |
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Chapter 1372, Government Code, applies only to a reservation of |
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state ceiling granted on or after January 1, 2015. |
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SECTION 4. This Act takes effect September 1, 2015. |
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