Bill Text: TX SB493 | 2019-2020 | 86th Legislature | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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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

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86R9030 JG-F
By: Alvarado S.B. No. 493

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 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.