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