Texas 2015 - 84th Regular

Texas Senate Bill SB976 Compare Versions

Version 1 (Old)

Version 2 (New)

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1	1	By: Rodríguez S.B. No. 976
2	2	(In the Senate - Filed March 5, 2015; March 10, 2015, read
3	3	first time and referred to Committee on Intergovernmental
4	4	Relations; April 29, 2015, reported adversely, with favorable
5	5	Committee Substitute by the following vote: Yeas 7, Nays 0;
6	6	April 29, 2015, sent to printer.)
7	7	Click here to see the committee vote
8	8	COMMITTEE SUBSTITUTE FOR S.B. No. 976 By: Lucio
9	9
10	10
11	11	A BILL TO BE ENTITLED
12	12	AN ACT
13	13	relating to certain qualified residential rental assistance
14	14	projects financed by private activity bonds.
15	15	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
16	16	SECTION 1. Section 1372.002, Government Code, is amended by
17	17	adding Subsection (f) to read as follows:
18	18	(f) Notwithstanding Subsection (c), an applicant to which
19	19	this subsection applies may aggregate more than one qualified
20	20	residential rental project into a single, combined project as part
21	21	of the participation of the housing authority for the applicable
22	22	municipality in the Rental Assistance Demonstration program
23	23	administered by the United States Department of Housing and Urban
24	24	Development, as specified by the Consolidated and Further
25	25	Continuing Appropriations Act of 2012 (Pub. L. No. 112-55) and its
26	26	subsequent amendments, if the combined project is related to the
27	27	municipal housing authority's conversion of public housing units as
28	28	permitted under that program.
29	29	SECTION 2. Section 1372.006(a), Government Code, is amended
30	30	to read as follows:
31	31	(a) An application for a reservation under Subchapter B or a
32	32	carryforward designation under Subchapter C must be accompanied by
33	33	a nonrefundable fee in the amount of $500, except that:
34	34	(1) for projects that include multiple facilities
35	35	authorized under Section 1372.002(e), the application must be
36	36	accompanied by a nonrefundable fee in an amount of $500 for each
37	37	facility included in the application for the project; [and]
38	38	(2) for issuers of qualified residential rental
39	39	project bonds the application must be accompanied by a
40	40	nonrefundable fee of $5,000, of which the board shall retain $1,000
41	41	to offset the costs of the private activity bond allocation program
42	42	and the administration of that program and of which the board shall
43	43	transfer $4,000 through an interagency agreement to the Texas
44	44	Department of Housing and Community Affairs for use in the
45	45	affordable housing research and information program as provided by
46	46	Section 2306.259; and
47	47	(3) for a combined project that includes multiple
48	48	qualified residential rental projects authorized under Section
49	49	1372.002(f), the application must be accompanied by a nonrefundable
50	50	fee in an amount of $5,000 for each qualified residential rental
51	51	project included in the application for the combined project, the
52	52	total amount of which the board shall retain 20 percent to offset
53	53	the costs of the private activity bond allocation program and the
54	54	administration of that program and of which the board shall
55	55	transfer 80 percent through an interagency agreement to the Texas
56	56	Department of Housing and Community Affairs for use in the
57	57	affordable housing research and information program as provided by
58	58	Section 2306.259.
59	59	SECTION 3. The change in law made by this Act in amending
60	60	Chapter 1372, Government Code, applies only to a reservation of
61	61	state ceiling granted on or after January 1, 2015.
62	62	SECTION 4. This Act takes effect September 1, 2015.
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