Bill Text: TX SB493 | 2019-2020 | 86th Legislature | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
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-Introduced.html
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-Introduced.html
86R9030 JG-F | ||
By: Alvarado | 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(f), Government Code, is | ||
amended to read as follows: | ||
(f) 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 or are located in an | ||
area declared to be a disaster under Section 418.014. This | ||
subsection applies only to communities contained within counties | ||
with populations exceeding one million. | ||
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 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. |