88R9837 JG-D
By: Garcia H.B. No. 2228
A BILL TO BE ENTITLED
AN ACT
relating to the allocation of housing tax credits to developments
within proximate geographical areas.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 2306.6711, Government Code, is amended
by amending Subsection (f) and adding Subsections (f-2) and (f-3)
to read as follows:
(f) Except as provided by Subsections [Subsection] (f-1)
and (f-2), the board may allocate housing tax credits to more than
one development in a single community, as defined by department
rule, in the same calendar year only if the developments are or will
be located more than two linear miles apart. This subsection
applies only to communities contained within counties with
populations exceeding one million.
(f-2) The board may allocate housing tax credits to more
than one development in a single community if:
(1) each development scores above average on the
opportunity index under department rule based on the average
opportunity index score for developments that were allocated
housing tax credits in the preceding year; or
(2) at least one of the developments will be located
wholly within a census tract in which the median value of
owner-occupied homes has increased by 15 percent or more within the
five years preceding the date of the application, and:
(A) the governing body of the municipality
containing the development or, if located outside a municipality,
the county containing the development adopts a resolution that
references this section and authorizes an allocation of housing tax
credits for the development; and
(B) the applicant for the development includes in
the application a copy of the resolution described by Paragraph
(A).
(f-3) Not later than the first week of each year, the
department shall prepare and publish on the department's Internet
website the average opportunity index score for developments that
were allocated housing tax credits during the preceding year.
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 2024 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 3. This Act takes effect September 1, 2023.