By: Bernal H.B. No. 4101
A BILL TO BE ENTITLED
AN ACT
relating to the allocation of low income housing tax credits set
aside for at-risk developments.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 2306.6714, Government Code, is amended
by adding Subsection (c) to read as follows:
(c) Except as otherwise provided by federal law and
notwithstanding any other provision of this chapter, in allocating
housing tax credits set aside under Subsection (a), the department
may not consider:
(1) the poverty rate or area median income in the
census tract in which the development is located; or
(2) the presence of blight three miles or less from the
development.
SECTION 2. The change in law made by this Act applies only
to low income housing tax credits that are awarded by the Texas
Department of Housing and Community Affairs during an application
cycle that begins on or after the effective date of this Act. A low
income housing tax credit that is awarded
during an application
cycle that began before the effective date of this Act 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.