Texas 2009 - 81st Regular

Texas House Bill HB1429 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	81R6331 JAM-D
2	2	By: Bohac H.B. No. 1429
3	3
4	4
5	5	A BILL TO BE ENTITLED
6	6	AN ACT
7	7	relating to notification requirements for applicants for low income
8	8	housing tax credits.
9	9	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
10	10	SECTION 1. Section 2306.6704(b-1), Government Code, is
11	11	amended to read as follows:
12	12	(b-1) The preapplication process must require the applicant
13	13	to provide the department with evidence that the applicant has
14	14	notified by certified mail the following entities with respect to
15	15	the filing of the application:
16	16	(1) any neighborhood organizations on record with the
17	17	state or county in which the development is to be located and whose
18	18	boundaries contain the proposed development site;
19	19	(2) the superintendent and the presiding officer of
20	20	the board of trustees of the school district containing the
21	21	development;
22	22	(3) the presiding officer of the governing body of any
23	23	municipality containing the development and all elected members of
24	24	that body;
25	25	(4) the presiding officer of the governing body of the
26	26	county containing the development and all elected members of that
27	27	body; and
28	28	(5) the state senator and state representative of the
29	29	district containing the development.
30	30	SECTION 2. Section 2306.6705, Government Code, is amended
31	31	to read as follows:
32	32	Sec. 2306.6705. GENERAL APPLICATION REQUIREMENTS. An
33	33	application must contain at a minimum the following written,
34	34	detailed information in a form prescribed by the board:
35	35	(1) a description of:
36	36	(A) the financing plan for the development,
37	37	including any nontraditional financing arrangements;
38	38	(B) the use of funds with respect to the
39	39	development;
40	40	(C) the funding sources for the development,
41	41	including:
42	42	(i) construction, permanent, and bridge
43	43	loans; and
44	44	(ii) rents, operating subsidies, and
45	45	replacement reserves; and
46	46	(D) the commitment status of the funding sources
47	47	for the development;
48	48	(2) if syndication costs are included in the eligible
49	49	basis, a justification of the syndication costs for each cost
50	50	category by an attorney or accountant specializing in tax matters;
51	51	(3) from a syndicator or a financial consultant of the
52	52	applicant, an estimate of the amount of equity dollars expected to
53	53	be raised for the development in conjunction with the amount of
54	54	housing tax credits requested for allocation to the applicant,
55	55	including:
56	56	(A) pay-in schedules; and
57	57	(B) syndicator consulting fees and other
58	58	syndication costs;
59	59	(4) if rental assistance, an operating subsidy, or an
60	60	annuity is proposed for the development, any related contract or
61	61	other agreement securing those funds and an identification of:
62	62	(A) the source and annual amount of the funds;
63	63	(B) the number of units receiving the funds; and
64	64	(C) the term and expiration date of the contract
65	65	or other agreement;
66	66	(5) if the development is located within the
67	67	boundaries of a political subdivision with a zoning ordinance,
68	68	evidence in the form of a letter from the chief executive officer of
69	69	the political subdivision or from another local official with
70	70	jurisdiction over zoning matters that states that:
71	71	(A) the development is permitted under the
72	72	provisions of the ordinance that apply to the location of the
73	73	development; or
74	74	(B) the applicant is in the process of seeking
75	75	the appropriate zoning and has signed and provided to the political
76	76	subdivision a release agreeing to hold the political subdivision
77	77	and all other parties harmless in the event that the appropriate
78	78	zoning is denied;
79	79	(6) if an occupied development is proposed for
80	80	rehabilitation:
81	81	(A) an explanation of the process used to notify
82	82	and consult with the tenants in preparing the application;
83	83	(B) a relocation plan outlining:
84	84	(i) relocation requirements; and
85	85	(ii) a budget with an identified funding
86	86	source; and
87	87	(C) if applicable, evidence that the relocation
88	88	plan has been submitted to the appropriate local agency;
89	89	(7) a certification of the applicant's compliance with
90	90	appropriate state and federal laws, as required by other state law
91	91	or by the board;
92	92	(8) any other information required by the board in the
93	93	qualified allocation plan; and
94	94	(9) evidence that the applicant has notified by
95	95	certified mail the following entities with respect to the filing of
96	96	the application:
97	97	(A) any neighborhood organizations on record
98	98	with the state or county in which the development is to be located
99	99	and whose boundaries contain the proposed development site;
100	100	(B) the superintendent and the presiding officer
101	101	of the board of trustees of the school district containing the
102	102	development;
103	103	(C) the presiding officer of the governing body
104	104	of any municipality containing the development and all elected
105	105	members of that body;
106	106	(D) the presiding officer of the governing body
107	107	of the county containing the development and all elected members of
108	108	that body; and
109	109	(E) the state senator and state representative of
110	110	the district containing the development.
111	111	SECTION 3. The changes in law made by this Act apply only to
112	112	an application for low income housing tax credits that is submitted
113	113	to the Texas Department of Housing and Community Affairs during an
114	114	application cycle that begins on or after the effective date of this
115	115	Act. An application that is submitted during an application cycle
116	116	that began before the effective date of this Act is governed by the
117	117	law in effect at the time the application cycle began, and the
118	118	former law is continued in effect for that purpose.
119	119	SECTION 4. This Act takes effect September 1, 2009.