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: Moderate Partisan Bill (Democrat 8-1)
Status: (Passed) 2019-06-10 - Effective on 9/1/19 [SB493 Detail]
Download: Texas-2019-SB493-Enrolled.html
| S.B. No. 493 | ||
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| 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 [ |
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| 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 | ||
