| 2 | | - | (In the Senate - Filed March 10, 2017; March 27, 2017, read |
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| 3 | | - | first time and referred to Committee on Intergovernmental |
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| 4 | | - | Relations; May 2, 2017, reported favorably by the following vote: |
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| 5 | | - | Yeas 4, Nays 3; May 2, 2017, sent to printer.) |
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| 6 | | - | Click here to see the committee vote |
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| 7 | 3 | | |
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| 8 | 4 | | |
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| 9 | 5 | | A BILL TO BE ENTITLED |
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| 10 | 6 | | AN ACT |
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| 11 | 7 | | relating to low income housing tax credits awarded for certain |
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| 12 | 8 | | developments. |
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| 13 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 14 | 10 | | SECTION 1. Section 2306.6711, Government Code, is amended |
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| 15 | 11 | | by adding Subsection (j) to read as follows: |
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| 16 | 12 | | (j) Except as necessary to comply with the nonprofit |
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| 17 | 13 | | set-aside required by Section 42(h)(5), Internal Revenue Code of |
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| 18 | 14 | | 1986 (26 U.S.C. Section 42(h)(5)), and except as otherwise provided |
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| 19 | 15 | | by this subsection, in each urban subregion of a uniform state |
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| 20 | 16 | | service region that contains a municipality with a population of |
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| 21 | 17 | | 285,000 or more, the board shall allocate housing tax credits to the |
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| 22 | 18 | | highest scoring development, if any, that qualifies as a supportive |
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| 23 | 19 | | housing project and is located in that urban subregion in a |
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| 24 | 20 | | municipality with a population of 285,000 or more. The department |
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| 25 | 21 | | by rule shall establish requirements for a supportive housing |
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| 26 | 22 | | project to qualify for housing tax credits under this subsection. |
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| 27 | 23 | | The department is not required to award housing tax credits to more |
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| 28 | 24 | | than the five highest scoring supportive housing projects under |
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| 29 | 25 | | this subsection in an application cycle. |
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| 30 | 26 | | SECTION 2. The change in law made by this Act applies only |
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| 31 | 27 | | to the allocation of low income housing tax credits for an |
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| 32 | 28 | | application cycle that begins on or after January 1, 2019. The |
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| 33 | 29 | | allocation of low income housing tax credits for an application |
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| 34 | 30 | | cycle that begins before January 1, 2019, is governed by the law in |
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| 35 | 31 | | effect on the date the application cycle began, and the former law |
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| 36 | 32 | | is continued in effect for that purpose. |
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| 37 | 33 | | SECTION 3. This Act takes effect September 1, 2017. |
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