Bill Text: TX SB493 | 2019-2020 | 86th Legislature | Enrolled


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

Spectrum: Partisan Bill (Democrat 9-0)

Status: (Passed) 2019-06-10 - Effective on 9/1/19 [SB493 Detail]

Download: Texas-2019-SB493-Enrolled.html
 
 
  S.B. No. 493
 
 
 
 
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-1) to read as
  follows:
         (f)  Except as provided by Subsection (f-1), the [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-1)  The board may allocate housing tax credits to more
  than one development in a single community only if:
               (1)  the community is located in:
                     (A)  a municipality with a population of two
  million or more; and
                     (B)  an area that is a federally declared disaster
  area; and
               (2)  the governing body of the municipality containing
  the development:
                     (A)  has by vote specifically authorized the
  allocation of housing tax credits for the development; and
                     (B)  is authorized to administer disaster
  recovery funds as a subgrant recipient.
         SECTION 2.  The changes in law made by this Act apply 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 2020 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, 2019.
 
 
 
 
 
  ______________________________ ______________________________
     President of the Senate Speaker of the House     
 
         I hereby certify that S.B. No. 493 passed the Senate on
  April 17, 2019, by the following vote: Yeas 30, Nays 1; and that
  the Senate concurred in House amendment on May 21, 2019, by the
  following vote: Yeas 31, Nays 0.
 
 
  ______________________________
  Secretary of the Senate    
 
         I hereby certify that S.B. No. 493 passed the House, with
  amendment, on May 9, 2019, by the following vote: Yeas 107,
  Nays 26, two present not voting.
 
 
  ______________________________
  Chief Clerk of the House   
 
 
 
  Approved:
 
  ______________________________ 
              Date
 
 
  ______________________________ 
            Governor
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