87R2840 JAM-D
By: Sanford H.B. No. 1853
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 2306.67022, Government Code, is amended
to read as follows:
Sec. 2306.67022. QUALIFIED ALLOCATION PLAN; MANUAL. The
[At least biennially, the] board biennially shall adopt a qualified
allocation plan and a corresponding manual to provide information
regarding the administration of and eligibility for the low income
housing tax credit program. The board may not adopt a [the] plan
and manual more frequently than once during each biennium
[annually, as considered appropriate by the board].
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 2020 qualified
allocation plan or a subsequent plan adopted by the governing board
of the department under Section 2306.67022, Government Code, as
amended by this Act. 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, 2021.