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A BILL TO BE ENTITLED
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AN ACT
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relating to low income housing tax credits awarded to supportive |
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housing 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 (d-5) to read as follows: |
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(d-5) In allocating low income housing tax credit |
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commitments under Subchapter DD, the department shall, before |
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applying the regional allocation formula prescribed by Section |
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2306.1115, set aside for supportive housing developments, as |
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defined by Section 2306.67141, not less than the minimum amount of |
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housing tax credits required under Section 2306.67141: |
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SECTION 2. Subchapter DD, Chapter 2306, Government Code, is |
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amended by adding Section 2306.67141 to read as follows: |
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Sec. 2306.67141. SUPPORTIVE HOUSING DEVELOPMENT SET-ASIDE. |
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(a) In this section "Supportive Housing Development" means a |
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residential rental development that is intended for occupancy by |
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households in need of specialized and specific non-medical services |
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in order to maintain independent living that: |
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(1) meets the definition of "supportive housing" |
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adopted by the department under the qualified allocation plan; and |
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(2) meets the criteria for supportive housing eligible |
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for the low income housing tax credit program as determined by the |
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department. |
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(b) The department shall set aside for eligible supportive |
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housing developments not less than 5 percent of the housing tax |
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credits available for allocation in the calendar year. |
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(c) The department may not allocate to an individual |
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development more than $1 million in a single application round. |
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(d) Any amount of housing tax credits set aside under this |
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section that remains after the initial allocation of housing tax |
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credits is available for allocation to any eligible applicant as |
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provided by the |
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qualified allocation plan. |
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SECTION 3. The changes in law made by this Act apply only to |
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an application for low income housing tax credits that is submitted |
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on or after the effective date of this Act. An application for low |
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income housing tax credits that is submitted before the effective |
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date of this Act is governed by the law in effect when the |
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application was submitted, and the former law is continued in |
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effect for that purpose. |
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SECTION 4. This Act takes effect September 1, 2019. |