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A BILL TO BE ENTITLED
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AN ACT
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relating to the payment of application fees for a commitment of low |
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income housing tax credits. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 2306.6716, Government Code, is amended |
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by adding Subsection (e) to read as follows: |
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(e) The department shall reject and return an application |
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for a low income housing tax credit commitment in the initial |
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allocation cycle if the applicant does not pay the total amount of |
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application fees on or before the application filing deadline |
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established under Section 2306.6724(d). |
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SECTION 2. The change in law made by this Act applies only |
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to an application for low income housing tax credits that is |
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submitted to the Texas Department of Housing and Community Affairs |
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during an application cycle that is based on the 2018 qualified |
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allocation plan or a subsequent plan adopted by the governing board |
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of the department under Section 2306.67022, Government Code. An |
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application that is submitted during an application cycle that is |
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based on an earlier qualified allocation plan is governed by the law |
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in effect on the date the application cycle began, and the former |
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law is continued in effect for that purpose. |
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SECTION 3. This Act takes effect September 1, 2017. |