Bill Text: TX HB3437 | 2015-2016 | 84th Legislature | Introduced

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Bill Title: Relating to application requirements for low income housing tax credits.

Sponsorship: Partisan Bill (Republican 1)

Status: (Introduced - Dead) 2015-04-07 - No action taken in committee [HB3437 Detail]

Download: Texas-2015-HB3437-Introduced.html

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84R11992 JAM-D
By: Riddle H.B. No. 3437

A BILL TO BE ENTITLED
AN ACT
relating to application requirements for low income housing tax
credits.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Sections 2306.67071(a) and (c), Government Code,
are amended to read as follows:
(a) Before submitting to the department an application for
housing tax credits, including housing tax credits for developments
financed through the private activity bond program, including
private activity bonds issued by the department, the Texas State
Affordable Housing Corporation, or a local issuer, an applicant
must provide notice of the intent to file the application to:
(1) the governing body of a municipality in which the
proposed development site is to be located;
(2) subject to Subdivision (3), the commissioners
court of a county in which the proposed development site is to be
located, if the proposed site is to be located in an area of a county
that is not part of a municipality; or
(3) the commissioners court of a county in which the
proposed development site is to be located and the governing body of
the applicable municipality, if the proposed site is to be located
in the extraterritorial jurisdiction of a municipality.
(c) The board may not approve an application for housing tax
credits, including housing tax credits for developments financed
through the private activity bond program, unless the applicant has
submitted to the department a certified copy of a resolution from
each applicable governing body described by Subsection (a). The
resolution must certify that:
(1) notice has been provided to each governing body as
required by Subsection (a);
(2) each governing body has had sufficient opportunity
to obtain a response from the applicant regarding any questions or
concerns about the proposed development;
(3) each governing body has held a hearing under
Subsection (b); and
(4) after due consideration of the information
provided by the applicant and public comment, the governing body
does not object to the proposed application.
SECTION 2. The change in law made by this Act applies only
to an application for low income housing tax credits that is
submitted to the Texas Department of Housing and Community Affairs
during an application cycle that begins on or after the effective
date of this Act. An application that is submitted during an
application cycle that began before the effective date of this Act
is governed by the law in effect at the time the application cycle
began, and the former law is continued in effect for that purpose.
SECTION 3. This Act takes effect September 1, 2015.