| 1 | 1 | | 81R4352 JAM-D |
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| 2 | 2 | | By: Lucio S.B. No. 991 |
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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 allocation of housing tax credits to developments |
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| 8 | 8 | | in rural areas under the low income housing tax credit program. |
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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 2306.67022, Government Code, is amended |
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| 11 | 11 | | to read as follows: |
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| 12 | 12 | | Sec. 2306.67022. QUALIFIED ALLOCATION PLAN; MANUAL. (a) |
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| 13 | 13 | | The board annually shall adopt a qualified allocation plan and a |
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| 14 | 14 | | corresponding manual to provide information regarding the |
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| 15 | 15 | | administration of and eligibility for the low income housing tax |
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| 16 | 16 | | credit program. |
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| 17 | 17 | | (b) The board shall adopt any provisions in the qualified |
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| 18 | 18 | | allocation plan that the board considers necessary to facilitate |
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| 19 | 19 | | the efficient delivery of multifamily housing to rural areas in |
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| 20 | 20 | | this state. |
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| 21 | 21 | | SECTION 2. Section 2306.6723(b), Government Code, is |
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| 22 | 22 | | amended to read as follows: |
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| 23 | 23 | | (b) The rural development agency shall assist in developing |
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| 24 | 24 | | all threshold, scoring, and underwriting criteria applied to |
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| 25 | 25 | | applications eligible for the rural area set-aside. The criteria |
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| 26 | 26 | | must be approved by that agency. To the extent permitted by federal |
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| 27 | 27 | | law and notwithstanding any funding priorities otherwise provided |
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| 28 | 28 | | by state law, the threshold, scoring, and underwriting criteria |
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| 29 | 29 | | developed and approved under this section must ensure that |
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| 30 | 30 | | applications for allocations of housing tax credits to small-scale |
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| 31 | 31 | | developments located in rural areas are not placed, based solely on |
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| 32 | 32 | | the size of the proposed developments, at a competitive |
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| 33 | 33 | | disadvantage with applications for allocations of housing tax |
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| 34 | 34 | | credits to other developments located in those areas. For purposes |
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| 35 | 35 | | of this subsection, "small-scale development" means a development |
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| 36 | 36 | | with fewer than 33 units. |
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| 37 | 37 | | SECTION 3. The changes in law made by this Act apply only to |
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| 38 | 38 | | an application cycle that begins on or after the effective date of |
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| 39 | 39 | | this Act. An application cycle that begins before the effective |
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| 40 | 40 | | date of this Act is governed by the law in effect when the |
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| 41 | 41 | | application cycle began, and the former law is continued in effect |
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| 42 | 42 | | for that purpose. |
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| 43 | 43 | | SECTION 4. This Act takes effect September 1, 2009. |
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