By: Collier H.B. No. 3574
A BILL TO BE ENTITLED
AN ACT
relating to the allocation of low income housing tax credits.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 2306.6710(a), Government Code, is
amended to read as follows:
(a) In evaluating an application, the department shall
determine whether the application satisfies the threshold criteria
required by the board in the qualified allocation plan.
Educational Quality may be considered by the department as part of
the threshold criteria but shall not be considered by the
department under Section 2306.6710(b). The department shall reject
and return to the applicant any application that fails to satisfy
the threshold criteria.
SECTION 2. The change in law made by this Act applies only
to an application for low income housing tax credits that is
submitted to the Texas Department of Housing and Community Affairs
during an application cycle that is based on the 2018 qualified
allocation plan or a subsequent plan adopted by the governing board
of the department under Section 2306.67022, Government Code. An
application that is submitted during an application cycle that is
based on an earlier qualified allocation plan 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, 2017.