Bill Text: TX SB976 | 2015-2016 | 84th Legislature | Comm Sub
Bill Title: Relating to certain qualified residential rental assistance projects financed by private activity bonds.
Sponsorship: Partisan Bill (Democrat 1)
Status: (Introduced - Dead) 2015-05-07 - Not again placed on intent calendar [SB976 Detail]
Download: Texas-2015-SB976-Comm_Sub.html
| By: Rodríguez | S.B. No. 976 | |
| (In the Senate - Filed March 5, 2015; March 10, 2015, read | ||
| first time and referred to Committee on Intergovernmental | ||
| Relations; April 29, 2015, reported adversely, with favorable | ||
| Committee Substitute by the following vote: Yeas 7, Nays 0; | ||
| April 29, 2015, sent to printer.) | ||
| COMMITTEE SUBSTITUTE FOR S.B. No. 976 | By: Lucio | |
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| relating to certain qualified residential rental assistance | ||
| projects financed by private activity bonds. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Section 1372.002, Government Code, is amended by | ||
| adding Subsection (f) to read as follows: | ||
| (f) Notwithstanding Subsection (c), an applicant to which | ||
| this subsection applies may aggregate more than one qualified | ||
| residential rental project into a single, combined project as part | ||
| of the participation of the housing authority for the applicable | ||
| municipality in the Rental Assistance Demonstration program | ||
| administered by the United States Department of Housing and Urban | ||
| Development, as specified by the Consolidated and Further | ||
| Continuing Appropriations Act of 2012 (Pub. L. No. 112-55) and its | ||
| subsequent amendments, if the combined project is related to the | ||
| municipal housing authority's conversion of public housing units as | ||
| permitted under that program. | ||
| SECTION 2. Section 1372.006(a), Government Code, is amended | ||
| to read as follows: | ||
| (a) An application for a reservation under Subchapter B or a | ||
| carryforward designation under Subchapter C must be accompanied by | ||
| a nonrefundable fee in the amount of $500, except that: | ||
| (1) for projects that include multiple facilities | ||
| authorized under Section 1372.002(e), the application must be | ||
| accompanied by a nonrefundable fee in an amount of $500 for each | ||
| facility included in the application for the project; [ |
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| (2) for issuers of qualified residential rental | ||
| project bonds the application must be accompanied by a | ||
| nonrefundable fee of $5,000, of which the board shall retain $1,000 | ||
| to offset the costs of the private activity bond allocation program | ||
| and the administration of that program and of which the board shall | ||
| transfer $4,000 through an interagency agreement to the Texas | ||
| Department of Housing and Community Affairs for use in the | ||
| affordable housing research and information program as provided by | ||
| Section 2306.259; and | ||
| (3) for a combined project that includes multiple | ||
| qualified residential rental projects authorized under Section | ||
| 1372.002(f), the application must be accompanied by a nonrefundable | ||
| fee in an amount of $5,000 for each qualified residential rental | ||
| project included in the application for the combined project, the | ||
| total amount of which the board shall retain 20 percent to offset | ||
| the costs of the private activity bond allocation program and the | ||
| administration of that program and of which the board shall | ||
| transfer 80 percent through an interagency agreement to the Texas | ||
| Department of Housing and Community Affairs for use in the | ||
| affordable housing research and information program as provided by | ||
| Section 2306.259. | ||
| SECTION 3. The change in law made by this Act in amending | ||
| Chapter 1372, Government Code, applies only to a reservation of | ||
| state ceiling granted on or after January 1, 2015. | ||
| SECTION 4. This Act takes effect September 1, 2015. | ||
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