Bill Text: TX SB2328 | 2023-2024 | 88th Legislature | Introduced

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Bill Title: Relating to certain occupancy preferences given by developments supported with a low income housing tax credit allocation.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Introduced - Dead) 2023-03-23 - Referred to Local Government [SB2328 Detail]

Download: Texas-2023-SB2328-Introduced.html

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88R5858 JAM-D
By: Eckhardt, Gutierrez, Menéndez S.B. No. 2328

A BILL TO BE ENTITLED
AN ACT
relating to certain occupancy preferences given by developments
supported with a low income housing tax credit allocation.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 2306.6701, Government Code, is amended
to read as follows:
Sec. 2306.6701. PURPOSE. (a) The department shall
administer the low income housing tax credit program to:
(1) encourage the development and preservation of
appropriate types of rental housing for households, including
members of a group specified by Subsection (b), that have
difficulty finding suitable, affordable rental housing in the
private marketplace;
(2) maximize the number of suitable, affordable
residential rental units added to the state's housing supply;
(3) prevent losses for any reason to the state's supply
of suitable, affordable residential rental units by enabling the
rehabilitation of rental housing or by providing other preventive
financial support under this subchapter; and
(4) provide for the participation of for-profit
organizations and provide for and encourage the participation of
nonprofit organizations in the acquisition, development, and
operation of affordable housing developments in urban and rural
communities.
(b) Consistent with Section 42(g)(9), Internal Revenue Code
of 1986, a development supported with a housing tax credit
allocation may give an occupancy preference to teachers and other
employees of the school district in which the development is
located, and members of the households of those persons, if all
other occupancy requirements under state and federal law are
satisfied.
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 is based on the 2024 qualified
allocation plan or a subsequent plan adopted by the governing board
of the department under Section 2306.67022, Government Code. An
application that is submitted during an application cycle that is
based on an earlier qualified allocation plan is governed by the law
in effect on the date the application cycle began, and the former
law is continued in effect for that purpose.
SECTION 3. This Act takes effect September 1, 2023.