H.B. No. 3535
AN ACT
relating to low income housing tax credits awarded for certain
developments.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 2306.6711, Government Code, is amended
by adding Subsection (g) to read as follows:
(g) Except as necessary to comply with the nonprofit
set-aside required by Section 42(h)(5), Internal Revenue Code of
1986 (26 U.S.C. Section 42(h)(5)), in an urban subregion of a
uniform state service region that contains a county with a
population of more than 1.7 million, the board shall allocate
housing tax credits to the highest scoring development, if any,
that is part of a concerted plan of revitalization and is located in
that urban subregion in a municipality with a population of 500,000
or more.
SECTION 2. The change in law made by this Act applies only
to the allocation of low income housing tax credits for an
application cycle that begins on or after January 1, 2017. The
allocation of low income housing tax credits for an application
cycle that begins before January 1, 2017, is governed by the law in
effect on the date the application cycle began, and the former law
is continued in effect for that purpose.
SECTION 3. This Act takes effect September 1, 2015.
______________________________ ______________________________
President of the Senate Speaker of the House
I certify that H.B. No. 3535 was passed by the House on May 5,
2015, by the following vote: Yeas 130, Nays 15, 2 present, not
voting; that the House refused to concur in Senate amendments to
H.B. No. 3535 on May 27, 2015, and requested the appointment of a
conference committee to consider the differences between the two
houses; and that the House adopted the conference committee report
on H.B. No. 3535 on May 31, 2015, by the following vote: Yeas 79,
Nays 63, 3 present, not voting.
______________________________
Chief Clerk of the House
I certify that H.B. No. 3535 was passed by the Senate, with
amendments, on May 24, 2015, by the following vote: Yeas 19, Nays
11; at the request of the House, the Senate appointed a conference
committee to consider the differences between the two houses; and
that the Senate adopted the conference committee report on H.B. No.
3535 on May 30, 2015, by the following vote: Yeas 23, Nays 8.
______________________________
Secretary of the Senate
APPROVED: __________________
Date
__________________
Governor