Texas 2017 - 85th Regular

Texas House Bill HB2405

Filed
 
Out of Senate Committee
 
Voted on by Senate
 
Governor Action
 
Bill Becomes Law
 

Caption

Relating to the allocation of low income housing tax credits to developments in certain areas designated as rural.

Impact

The implementation of HB 2405 would have significant implications for state law regarding housing development and funding. By redefining the parameters for rural designations, the bill seeks to enhance the opportunities for development in areas that might traditionally be overlooked for funding. This could lead to an increase in affordable housing options in rural parts of Texas, potentially addressing housing shortages and providing relief for low-income residents.

Summary

House Bill 2405 focuses on the allocation of low-income housing tax credits specifically for developments within areas designated as rural. The bill aims to amend existing legislation to ensure that rural areas, even those within metropolitan statistical areas, can qualify for these tax credits. This adjustment is seen as a way to support housing development in less densely populated regions, promoting a more equitable distribution of housing resources across Texas.

Sentiment

Overall sentiment towards HB 2405 appears to be cautiously optimistic. Proponents argue that the bill is a positive step towards addressing housing inequities, especially in rural areas. However, there also seems to be a concern about whether the allocation of these tax credits will effectively lead to tangible improvements in housing availability. Advocates for rural development express hope that this legislation will foster a sustainable growth in affordable housing, while critics emphasize the need for careful oversight to ensure that the tax credits are utilized effectively.

Contention

A notable point of contention surrounding HB 2405 is the potential for misuse of designated tax credits. Some stakeholders worry that the expanded definitions of rural areas could lead to over-designation, resulting in tax credits being allocated to regions that may not genuinely need the financial support. Additionally, there are discussions about the criteria used by the Texas Department of Housing to evaluate rural designations, which could influence the effectiveness of the bill in meeting its intended outcomes.

Companion Bills

No companion bills found.

Previously Filed As

TX HB4550

Relating to the allocation of low income housing tax credits.

TX HB4858

Relating to the allocation of low income housing tax credits.

TX SB1480

Relating to the allocation of low income housing tax credits.

TX HB2228

Relating to the allocation of housing tax credits to developments within proximate geographical areas.

TX HB2402

Relating to the eligibility of certain at-risk developments to receive low income housing tax credits.

TX HB3591

Relating to the allocation of low income housing tax credits.

TX SB1925

Relating to the allocation of low income housing tax credits.

TX SB1038

Relating to the eligibility of certain at-risk developments to receive low income housing tax credits.

TX SB2328

Relating to certain occupancy preferences given by developments supported with a low income housing tax credit allocation.

TX SB1963

Relating to the qualified allocation plan and manual adopted for the allocation of low income housing tax credits.

Similar Bills

No similar bills found.