88R18201 JAM-F
 
  By: Cunningham H.B. No. 4550
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the qualified allocation plan and manual adopted for
  the allocation of low income housing tax credits.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 2306.67022, Government Code, is amended
  to read as follows:
         Sec. 2306.67022.  QUALIFIED ALLOCATION PLAN; MANUAL. (a)  
  The [At least biennially, the] board biennially shall adopt a
  qualified allocation plan and a corresponding manual to provide
  information regarding the administration of and eligibility for the
  low income housing tax credit program.  The board may not adopt a 
  [the] plan and manual more frequently than once during each
  biennium [annually, as considered appropriate by the board].
         (b)  The board biennially shall adjust to reflect inflation
  any amount specified in the qualified allocation plan relating to
  the acceptable cost of a development by square foot. The board
  shall use 2021 as the base year for the adjustment.
         (c)  In making the computation under Subsection (b), the
  board shall consider the Consumer Price Index for All Urban
  Consumers, or its successor in function, published by the United
  States Bureau of Labor Statistics.
         SECTION 2.  The change in law made by this Act applies to the
  adoption of a qualified allocation plan and corresponding manual
  for the state fiscal biennium beginning September 1, 2023.
         SECTION 3.  This Act takes effect September 1, 2023.