By: Watson  S.B. No. 542
         (In the Senate - Filed January 31, 2019; February 21, 2019,
  read first time and referred to Committee on Intergovernmental
  Relations; April 11, 2019, reported adversely, with favorable
  Committee Substitute by the following vote:  Yeas 5, Nays 2;
  April 11, 2019, sent to printer.)
Click here to see the committee vote
 
  COMMITTEE SUBSTITUTE FOR S.B. No. 542 By:  Schwertner
 
 
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(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:
               (1)  the developments are or will be located more than
  two linear miles apart; or
               (2)  the following conditions are met:
                     (A)  at least one of the developments will be
  located wholly within a census tract:
                           (i)  that has a poverty rate above 15
  percent; and
                           (ii)  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; and
                     (B)  the applicant for the development:
                           (i)  has obtained prior approval of the
  development from the governing body of the appropriate municipality
  or county containing the development; and
                           (ii)  has included in the application a
  written statement of support from that governing body referencing
  this section and authorizing an allocation of housing tax credits
  for the development.  [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.
 
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