| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | By: Bernal H.B. No. 4101 | |
| 2 | 2 | ||
| 3 | 3 | ||
| 4 | 4 | A BILL TO BE ENTITLED | |
| 5 | 5 | AN ACT | |
| 6 | 6 | relating to the allocation of low income housing tax credits set | |
| 7 | 7 | aside for at-risk developments. | |
| 8 | 8 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 9 | 9 | SECTION 1. Section 2306.6714, Government Code, is amended | |
| 10 | 10 | by adding Subsection (c) to read as follows: | |
| 11 | 11 | (c) Except as otherwise provided by federal law and | |
| 12 | 12 | notwithstanding any other provision of this chapter, in allocating | |
| 13 | 13 | housing tax credits set aside under Subsection (a), the department | |
| 14 | 14 | may not consider: | |
| 15 | 15 | (1) the poverty rate or area median income in the | |
| 16 | 16 | census tract in which the development is located; or | |
| 17 | 17 | (2) the presence of blight three miles or less from the | |
| 18 | 18 | development. | |
| 19 | 19 | SECTION 2. The change in law made by this Act applies only | |
| 20 | 20 | to low income housing tax credits that are awarded by the Texas | |
| 21 | 21 | Department of Housing and Community Affairs during an application | |
| 22 | 22 | cycle that begins on or after the effective date of this Act. A low | |
| 23 | 23 | income housing tax credit that is awarded | |
| 24 | 24 | during an application | |
| 25 | 25 | cycle that began before the effective date of this Act is governed | |
| 26 | 26 | by the law in effect on the date the application cycle began, and | |
| 27 | 27 | the former law is continued in effect for that purpose. | |
| 28 | 28 | SECTION 3. This Act takes effect September 1, 2015. |