2009S0568-2 03/10/09
By: Hinojosa S.B. No. 2209
A BILL TO BE ENTITLED
AN ACT
relating to applications regarding the issuance of private activity
bonds by certain governmental entities for projects with multiple
sites.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 1372.002, Government Code, is amended by
amending Subsection (a) and adding Subsection (e) to read as
follows:
(a) For purposes of this chapter, a project is:
(1) an eligible facility or facilities that are
proposed to be financed, in whole or in part, by an issue of
qualified residential rental project bonds;
(2) in connection with an issue of qualified mortgage
bonds or qualified student loan bonds, the providing of financial
assistance to qualified mortgagors or students located in all or
any part of the jurisdiction of the issuer; or
(3) an eligible facility or facilities that are [is]
proposed to be financed, in whole or in part, by an issue of bonds
other than bonds described by Subdivision (1) or (2).
(e) For purposes of Subsection (a)(3), and only for
applications for the financing of sewage facilities, solid waste
disposal facilities, and qualified hazardous waste facilities, an
application under this chapter may include multiple facilities in
multiple jurisdictions. In such an application, the number of
facilities may be reduced as needed without affecting their status
as a project for purposes of the application.
SECTION 2. Subsection (a), Section 1372.006, Government
Code, is amended to read as follows:
(a) An application for a reservation under Subchapter B or a
carryforward designation under Subchapter C must be accompanied by
a nonrefundable fee in an [the] amount of $500 for each facility
included in the application for the project, except that for
issuers of qualified residential rental project bonds the
application must be accompanied by a nonrefundable fee of $5,000,
of which the board shall retain $1,000 to offset the costs of the
private activity bond allocation program and the administration of
that program and of which the board shall transfer $4,000 through an
interagency agreement to the Texas Department of Housing and
Community Affairs for use in the affordable housing research and
information program as provided by Section 2306.259.
SECTION 3. Section 1372.029, Government Code, is amended to
read as follows:
Sec. 1372.029. APPLICATIONS FOR MULTIPLE PROJECTS AT SAME
SITE PROHIBITED. The board may not accept applications for
reservations for more than one project located at, or related to, a
business operation at a particular site for any one program year or
for more than one facility included in a project located at, or
related to, a business operation at a particular site for any one
program year.
SECTION 4. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2009.