87R8520 JG-D
By: Shaheen H.B. No. 2328
A BILL TO BE ENTITLED
AN ACT
relating to the system by which an application for low income
housing tax credits is scored and the amount of low income housing
tax credits awarded during an application cycle.
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. (a)
At least biennially, the board 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 adopt the plan and manual
annually, as considered appropriate by the board.
(b) The department may require as part of the threshold
criteria under a qualified allocation plan that a proposed
development satisfy certain criteria relating to educational
quality, as specified by the department in that plan.
(c) The department may not adopt a qualified allocation plan
that uses a scoring system that awards points to an application
based on criteria relating to the educational quality applicable to
a proposed development site.
SECTION 2. Section 2306.6711(b), Government Code, is
amended to read as follows:
(b) Not later than the deadline specified in the qualified
allocation plan, the board shall issue commitments for available
housing tax credits based on the application evaluation process
provided by Section 2306.6710. The board may not allocate to an
applicant housing tax credits in any unnecessary amount, as
determined by the department's underwriting policy and by federal
law, and in any event may not allocate to the applicant housing tax
credits in an amount greater than $4 [$3] million in a single
application round or to an individual development more than $2
million in a single application round.
SECTION 3. Section 2306.1112, Government Code, is repealed.
SECTION 4. 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 2022 qualified
allocation plan or a subsequent plan adopted by the governing board
of the department. 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 5. This Act takes effect September 1, 2021.