Bill Text: TX SB400 | 2021-2022 | 87th Legislature | Introduced


Bill Title: Relating to the allocation of housing tax credits to developments within proximate geographical areas.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2021-01-22 - Filed [SB400 Detail]

Download: Texas-2021-SB400-Introduced.html
  87R5906 JG-D
 
  By: Zaffirini S.B. No. 400
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the allocation of housing tax credits to developments
  within proximate geographical areas.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 2306.6711, Government Code, is amended
  by amending Subsection (f) and adding Subsection (f-2) to read as
  follows:
         (f)  Except as provided by Subsections [Subsection] (f-1)
  and (f-2), the board may allocate housing tax credits to more than
  one development in a single community, as defined by department
  rule, in the same calendar year only if the developments are or will
  be located more than two linear miles apart. This subsection
  applies only to communities contained within counties with
  populations exceeding one million.
         (f-2)  The board may allocate housing tax credits to more
  than one development in a single community only if:
               (1)  at least one of the developments will be located
  wholly within a census tract in which the median value of
  owner-occupied homes has increased by 15 percent or more within the
  five years preceding the date of the application;
               (2)  the governing body of the municipality containing
  the development or, if located outside a municipality, the county
  containing the development adopts a resolution that references this
  section and authorizes an allocation of housing tax credits for the
  development; and
               (3)  the applicant for the development includes in the
  application a copy of the resolution described by Subdivision (2). 
         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 2022 qualified
  allocation plan or a subsequent plan adopted by the governing board
  of the department. 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, 2021.
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