| 1 | 1 | | 84R2781 TJB-D |
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| 2 | 2 | | By: Dutton H.B. No. 752 |
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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 eligibility of property used for affordable housing |
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| 8 | 8 | | for ad valorem tax benefits under the Texas Economic Development |
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| 9 | 9 | | Act. |
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| 10 | 10 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 11 | 11 | | SECTION 1. Section 313.024(b), Tax Code, is amended to read |
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| 12 | 12 | | as follows: |
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| 13 | 13 | | (b) To be eligible for a limitation on appraised value under |
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| 14 | 14 | | this subchapter, the entity must use the property for: |
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| 15 | 15 | | (1) manufacturing; |
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| 16 | 16 | | (2) research and development; |
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| 17 | 17 | | (3) a clean coal project, as defined by Section 5.001, |
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| 18 | 18 | | Water Code; |
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| 19 | 19 | | (4) an advanced clean energy project, as defined by |
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| 20 | 20 | | Section 382.003, Health and Safety Code; |
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| 21 | 21 | | (5) renewable energy electric generation; |
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| 22 | 22 | | (6) electric power generation using integrated |
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| 23 | 23 | | gasification combined cycle technology; |
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| 24 | 24 | | (7) nuclear electric power generation; |
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| 25 | 25 | | (8) a computer center primarily used in connection |
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| 26 | 26 | | with one or more activities described by Subdivisions (1) through |
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| 27 | 27 | | (7) conducted by the entity; [or] |
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| 28 | 28 | | (9) a Texas priority project; or |
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| 29 | 29 | | (10) affordable housing. |
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| 30 | 30 | | SECTION 2. Section 313.024(e), Tax Code, is amended by |
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| 31 | 31 | | adding Subdivision (8) to read as follows: |
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| 32 | 32 | | (8) "Affordable housing" means housing that is owned |
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| 33 | 33 | | for the purpose of renting the housing to individuals or families |
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| 34 | 34 | | whose median income is not more than 70 percent of the area median |
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| 35 | 35 | | family income for the household's place of residence, as adjusted |
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| 36 | 36 | | for family size and as established by the United States Department |
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| 37 | 37 | | of Housing and Urban Development. |
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| 38 | 38 | | SECTION 3. The changes in law made by this Act apply only to |
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| 39 | 39 | | an agreement entered into under Chapter 313, Tax Code, on or after |
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| 40 | 40 | | the effective date of this Act. An agreement entered into under |
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| 41 | 41 | | that chapter before the effective date of this Act is governed by |
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| 42 | 42 | | the law in effect on the date the agreement was entered into, and |
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| 43 | 43 | | the former law is continued in effect for that purpose. |
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| 44 | 44 | | SECTION 4. This Act takes effect September 1, 2015. |
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