Bill Text: TX HB3311 | 2015-2016 | 84th Legislature | Engrossed
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to the scoring criteria for an application for a low income housing tax credit and the allocation of those credits to developments reserved for elderly persons.
Spectrum: Bipartisan Bill
Status: (Passed) 2015-06-19 - Effective on 9/1/15 [HB3311 Detail]
Download: Texas-2015-HB3311-Engrossed.html
Bill Title: Relating to the scoring criteria for an application for a low income housing tax credit and the allocation of those credits to developments reserved for elderly persons.
Spectrum: Bipartisan Bill
Status: (Passed) 2015-06-19 - Effective on 9/1/15 [HB3311 Detail]
Download: Texas-2015-HB3311-Engrossed.html
84R26353 KJE-D | ||
By: Alvarado | H.B. No. 3311 |
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relating to the scoring criteria for an application for a low income | ||
housing tax credit and the allocation of those credits to | ||
developments reserved for elderly persons. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 2306.6711, Government Code, is amended | ||
by adding Subsections (h) and (i) to read as follows: | ||
(h) Notwithstanding Section 2306.6710(d), and except as | ||
necessary to comply with the nonprofit set-aside required by | ||
Section 42(h)(5), Internal Revenue Code of 1986 (26 U.S.C. Section | ||
42(h)(5)), the board may not allocate to developments reserved for | ||
elderly persons and located in an urban subregion of a uniform state | ||
service region a percentage of the available housing tax credits | ||
allocated to developments located in that subregion that is greater | ||
than the percentage that results from the following formula, unless | ||
there are no other qualified applicants in that region: | ||
MP = [(LEH - ERU)/(TLH - TEU)] X 100 | ||
where: | ||
"MP" is the maximum percentage of the available housing tax | ||
credits allocated to developments in the subregion that may be | ||
allocated to developments reserved for elderly persons; | ||
"LEH" is the number of low income elderly households in the | ||
subregion; | ||
"ERU" is the number of existing units reserved for elderly | ||
persons in developments located in the subregion that already | ||
receive housing tax credits; | ||
"TLH" is the total number of low income households in the | ||
subregion; and | ||
"TEU" is the total number of existing units in developments | ||
located in the subregion that already receive housing tax credits. | ||
(i) Subsection (h) applies only to a uniform state service | ||
region that contains a county with a population of more than one | ||
million. | ||
SECTION 2. Section 2306.6725(d), Government Code, is | ||
amended to read as follows: | ||
(d) For each scoring criterion, the department shall use a | ||
range of points to evaluate the degree to which a proposed project | ||
satisfies the criterion. The department may not award: | ||
(1) a number of points for a scoring criterion that is | ||
disproportionate to the degree to which a proposed project complies | ||
with that criterion; or | ||
(2) to a proposed project for the general population a | ||
number of points for a scoring criterion that is different than the | ||
number of points awarded for that criterion to a proposed project | ||
reserved for elderly persons if the proposed projects comply with | ||
the criterion to the same degree. | ||
SECTION 3. (a) The change in law made by this Act to | ||
Section 2306.6711, Government Code, applies only to the allocation | ||
of low income housing tax credits for an application cycle that | ||
begins on or after the effective date of this Act. The allocation | ||
of low income housing tax credits for an application cycle that | ||
begins before the effective date of this Act 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. | ||
(b) The change in law made by this Act to Section | ||
2306.6725(d), Government Code, 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 begins on or after the effective date of this Act. An | ||
application that is submitted during an application cycle that | ||
began before the effective date of this Act is governed by the law | ||
in effect at the time the application cycle began, and the former | ||
law is continued in effect for that purpose. | ||
SECTION 4. This Act takes effect September 1, 2015. |