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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. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 2306.6711(b), Government Code, is |
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amended to read as follows: |
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(b) Not later than the deadline specified in the qualified |
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allocation plan, the board shall issue commitments for available |
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housing tax credits based on the application evaluation process |
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provided by Section 2306.6710. The board may not allocate to an |
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applicant housing tax credits in any unnecessary amount, as |
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determined by the department's underwriting policy and by federal |
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law, and in any event may not allocate to the applicant housing tax |
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credits in an amount greater than $6 million in a single application |
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round or to an individual development more than $3 [$2] million in a |
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single application round. |
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SECTION 2. Section 2306.6711(b), Government Code, as |
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amended by this Act, applies only to an application for low income |
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housing tax credits that is submitted to the Texas Department of |
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Housing and Community Affairs during an application cycle that is |
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based on the 2026 qualified allocation plan or a subsequent plan |
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adopted by the governing board of the department. An application |
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that is submitted during an application cycle that is based on an |
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earlier qualified allocation plan is governed by the law in effect |
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on the date the application cycle began, and the former law is |
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continued in effect for that purpose. |
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SECTION 3. This Act takes effect September 1, 2025. |