| 1 | 1 | | 81R4763 JD-D |
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| 2 | 2 | | By: Rodriguez H.B. No. 1271 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the required use of tax increment financing to provide |
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| 8 | 8 | | affordable housing in certain reinvestment zones. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Section 311.011, Tax Code, is amended by adding |
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| 11 | 11 | | Subsection (h) to read as follows: |
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| 12 | 12 | | (h) This subsection applies only to a zone that is located |
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| 13 | 13 | | in a county with a population of more than 800,000 and less than 1.4 |
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| 14 | 14 | | million, is designated on or after January 1, 2005, and is or will |
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| 15 | 15 | | be served by a rail transportation project as defined by Section |
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| 16 | 16 | | 311.01005. The project plan for the zone must: |
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| 17 | 17 | | (1) contain a residential component that includes the |
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| 18 | 18 | | construction of affordable housing in the zone; |
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| 19 | 19 | | (2) require that at least 25 percent of the tax |
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| 20 | 20 | | increment of the zone be used to acquire necessary real property and |
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| 21 | 21 | | construct the affordable housing until at least 10 percent of the |
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| 22 | 22 | | total square footage in the residential component as shown in the |
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| 23 | 23 | | project plan consists of multifamily rental properties and |
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| 24 | 24 | | single-family dwellings, half of which are affordable to |
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| 25 | 25 | | individuals or families with incomes at or below 30 percent of the |
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| 26 | 26 | | area median income, as determined by the Texas Department of |
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| 27 | 27 | | Housing and Community Affairs, adjusted for family size, and half |
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| 28 | 28 | | of which are affordable to individuals or families with incomes |
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| 29 | 29 | | above 30 percent and below 50 percent of the adjusted area median |
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| 30 | 30 | | income; |
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| 31 | 31 | | (3) require that the affordable housing consisting of |
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| 32 | 32 | | rental properties continue to be affordable for at least 30 years |
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| 33 | 33 | | from the date of construction and that the affordable housing |
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| 34 | 34 | | consisting of owner-occupied single-family dwellings continue to |
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| 35 | 35 | | be affordable for at least 10 years from the date of construction; |
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| 36 | 36 | | and |
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| 37 | 37 | | (4) include policies that govern the administration of |
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| 38 | 38 | | the affordability terms for affordable housing consisting of rental |
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| 39 | 39 | | properties and of owner-occupied single-family dwellings. |
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| 40 | 40 | | SECTION 2. This Act takes effect immediately if it receives |
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| 41 | 41 | | a vote of two-thirds of all the members elected to each house, as |
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| 42 | 42 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 43 | 43 | | Act does not receive the vote necessary for immediate effect, this |
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| 44 | 44 | | Act takes effect September 1, 2009. |
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