| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 86R14091 JAM-D | |
| 2 | 2 | By: Sanford H.B. No. 4081 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | A BILL TO BE ENTITLED | |
| 6 | 6 | AN ACT | |
| 7 | 7 | relating to the allocation of low income housing tax credits. | |
| 8 | 8 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 9 | 9 | SECTION 1. Section 2306.67022, Government Code, is amended | |
| 10 | 10 | to read as follows: | |
| 11 | 11 | Sec. 2306.67022. QUALIFIED ALLOCATION PLAN; MANUAL. The | |
| 12 | 12 | [At least biennially, the] board biennially shall adopt a qualified | |
| 13 | 13 | allocation plan and a corresponding manual to provide information | |
| 14 | 14 | regarding the administration of and eligibility for the low income | |
| 15 | 15 | housing tax credit program. The board may not adopt a [the] plan | |
| 16 | 16 | and manual more frequently than once during each biennium | |
| 17 | 17 | [annually, as considered appropriate by the board]. | |
| 18 | 18 | SECTION 2. The change in law made by this Act applies only | |
| 19 | 19 | to an application for low income housing tax credits that is | |
| 20 | 20 | submitted to the Texas Department of Housing and Community Affairs | |
| 21 | 21 | during an application cycle that is based on the 2020 qualified | |
| 22 | 22 | allocation plan or a subsequent plan adopted by the governing board | |
| 23 | 23 | of the department under Section 2306.67022, Government Code, as | |
| 24 | 24 | amended by this Act. An application that is submitted during an | |
| 25 | 25 | application cycle that is based on an earlier qualified allocation | |
| 26 | 26 | plan is governed by the law in effect on the date the application | |
| 27 | 27 | cycle began, and the former law is continued in effect for that | |
| 28 | 28 | purpose. | |
| 29 | 29 | SECTION 3. This Act takes effect September 1, 2019. |