| 2 | + | (In the Senate - Filed January 31, 2019; February 21, 2019, |
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| 3 | + | read first time and referred to Committee on Intergovernmental |
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| 4 | + | Relations; April 11, 2019, reported adversely, with favorable |
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| 5 | + | Committee Substitute by the following vote: Yeas 5, Nays 2; |
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| 6 | + | April 11, 2019, sent to printer.) |
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| 7 | + | Click here to see the committee vote |
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| 8 | + | COMMITTEE SUBSTITUTE FOR S.B. No. 542 By: Schwertner |
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| 2 | 9 | | |
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| 3 | 10 | | |
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| 4 | 11 | | A BILL TO BE ENTITLED |
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| 5 | 12 | | AN ACT |
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| 6 | 13 | | relating to the allocation of housing tax credits to developments |
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| 7 | 14 | | within proximate geographical areas. |
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| 8 | 15 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 9 | 16 | | SECTION 1. Section 2306.6711(f), Government Code, is |
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| 10 | 17 | | amended to read as follows: |
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| 11 | 18 | | (f) The board may allocate housing tax credits to more than |
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| 12 | 19 | | one development in a single community, as defined by department |
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| 13 | 20 | | rule, in the same calendar year [only] if: |
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| 14 | 21 | | (1) the developments are or will be located more than |
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| 15 | 22 | | two linear miles apart; or |
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| 16 | 23 | | (2) the following conditions are met: |
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| 17 | 24 | | (A) at least one of the developments will be |
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| 18 | 25 | | located wholly within a census tract: |
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| 19 | 26 | | (i) that has a poverty rate above 15 |
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| 20 | 27 | | percent; and |
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| 21 | 28 | | (ii) in which the median value of |
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| 22 | 29 | | owner-occupied homes has increased by 15 percent or more within the |
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| 23 | 30 | | five years preceding the date of the application; and |
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| 24 | 31 | | (B) the applicant for the development: |
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| 25 | 32 | | (i) has obtained prior approval of the |
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| 26 | 33 | | development from the governing body of the appropriate municipality |
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| 27 | 34 | | or county containing the development; and |
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| 28 | 35 | | (ii) has included in the application a |
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| 29 | 36 | | written statement of support from that governing body referencing |
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| 30 | 37 | | this section and authorizing an allocation of housing tax credits |
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| 31 | 38 | | for the development. [This subsection applies only to communities |
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| 32 | 39 | | contained within counties with populations exceeding one million.] |
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| 33 | 40 | | SECTION 2. The change in law made by this Act applies only |
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| 34 | 41 | | to an application for low income housing tax credits that is |
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| 35 | 42 | | submitted to the Texas Department of Housing and Community Affairs |
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| 36 | 43 | | during an application cycle that is based on the 2020 qualified |
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| 37 | 44 | | allocation plan or a subsequent plan adopted by the governing board |
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| 38 | 45 | | of the department. An application that is submitted during an |
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| 39 | 46 | | application cycle that is based on an earlier qualified allocation |
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| 40 | 47 | | plan is governed by the law in effect on the date the application |
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| 41 | 48 | | cycle began, and the former law is continued in effect for that |
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| 42 | 49 | | purpose. |
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| 43 | 50 | | SECTION 3. This Act takes effect September 1, 2019. |
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