| 1 | 1 | | By: Hinojosa S.B. No. 2209 |
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| 2 | 2 | | |
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| 3 | 3 | | |
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| 4 | 4 | | A BILL TO BE ENTITLED |
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| 5 | 5 | | AN ACT |
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| 6 | 6 | | relating to applications regarding the issuance of private activity |
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| 7 | 7 | | bonds by certain governmental entities for projects with multiple |
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| 8 | 8 | | sites. |
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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 1372.002, Government Code, is amended by |
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| 11 | 11 | | amending Subsection (a) and adding Subsection (e) to read as |
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| 12 | 12 | | follows: |
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| 13 | 13 | | (a) For purposes of this chapter, a project is: |
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| 14 | 14 | | (1) an eligible facility or facilities that are |
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| 15 | 15 | | proposed to be financed, in whole or in part, by an issue of |
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| 16 | 16 | | qualified residential rental project bonds; |
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| 17 | 17 | | (2) in connection with an issue of qualified mortgage |
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| 18 | 18 | | bonds or qualified student loan bonds, the providing of financial |
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| 19 | 19 | | assistance to qualified mortgagors or students located in all or |
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| 20 | 20 | | any part of the jurisdiction of the issuer; or |
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| 21 | 21 | | (3) an eligible facility or facilities that are [is] |
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| 22 | 22 | | proposed to be financed, in whole or in part, by an issue of bonds |
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| 23 | 23 | | other than bonds described by Subdivision (1) or (2). |
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| 24 | 24 | | (e) For purposes of Subsection (a)(3), and only for |
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| 25 | 25 | | applications for the financing of sewage facilities, solid waste |
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| 26 | 26 | | disposal facilities, and qualified hazardous waste facilities, an |
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| 27 | 27 | | application under this chapter may include multiple facilities in |
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| 28 | 28 | | multiple jurisdictions. In such an application, the number of |
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| 29 | 29 | | facilities may be reduced as needed without affecting their status |
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| 30 | 30 | | as a project for purposes of the application. |
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| 31 | 31 | | SECTION 2. Subsection (a), Section 1372.006, Government |
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| 32 | 32 | | Code, is amended to read as follows: |
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| 33 | 33 | | (a) An application for a reservation under Subchapter B or a |
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| 34 | 34 | | carryforward designation under Subchapter C must be accompanied by |
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| 35 | 35 | | a nonrefundable fee in the amount of $500, except that: |
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| 36 | 36 | | (1) for projects that include multiple facilities |
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| 37 | 37 | | authorized under Section 1372.002(e), the application must be |
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| 38 | 38 | | accompanied by a nonrefundable fee in an amount of $500 for each |
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| 39 | 39 | | facility included in the application for the project; and |
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| 40 | 40 | | (2) for issuers of qualified residential rental |
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| 41 | 41 | | project bonds the application must be accompanied by a |
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| 42 | 42 | | nonrefundable fee of $5,000, of which the board shall retain $1,000 |
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| 43 | 43 | | to offset the costs of the private activity bond allocation program |
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| 44 | 44 | | and the administration of that program and of which the board shall |
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| 45 | 45 | | transfer $4,000 through an interagency agreement to the Texas |
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| 46 | 46 | | Department of Housing and Community Affairs for use in the |
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| 47 | 47 | | affordable housing research and information program as provided by |
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| 48 | 48 | | Section 2306.259. |
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| 49 | 49 | | SECTION 3. This Act takes effect immediately if it receives |
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| 50 | 50 | | a vote of two-thirds of all the members elected to each house, as |
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| 51 | 51 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 52 | 52 | | Act does not receive the vote necessary for immediate effect, this |
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| 53 | 53 | | Act takes effect September 1, 2009. |
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