| 1 | 1 | | 89R4119 JAM-F |
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| 2 | 2 | | By: Blanco S.B. No. 898 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | |
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| 6 | 6 | | |
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| 7 | 7 | | A BILL TO BE ENTITLED |
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| 8 | 8 | | AN ACT |
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| 9 | 9 | | relating to the allocation of low income housing tax credits. |
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| 10 | 10 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 11 | 11 | | SECTION 1. Section 2306.6711(b), Government Code, is |
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| 12 | 12 | | amended to read as follows: |
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| 13 | 13 | | (b) Not later than the deadline specified in the qualified |
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| 14 | 14 | | allocation plan, the board shall issue commitments for available |
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| 15 | 15 | | housing tax credits based on the application evaluation process |
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| 16 | 16 | | provided by Section 2306.6710. The board may not allocate to an |
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| 17 | 17 | | applicant housing tax credits in any unnecessary amount, as |
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| 18 | 18 | | determined by the department's underwriting policy and by federal |
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| 19 | 19 | | law, and in any event may not allocate to the applicant housing tax |
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| 20 | 20 | | credits in an amount greater than $6 million in a single application |
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| 21 | 21 | | round or to an individual development more than $3 [$2] million in a |
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| 22 | 22 | | single application round. |
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| 23 | 23 | | SECTION 2. Section 2306.6711(b), Government Code, as |
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| 24 | 24 | | amended by this Act, applies only to an application for low income |
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| 25 | 25 | | housing tax credits that is submitted to the Texas Department of |
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| 26 | 26 | | Housing and Community Affairs during an application cycle that is |
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| 27 | 27 | | based on the 2026 qualified allocation plan or a subsequent plan |
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| 28 | 28 | | adopted by the governing board of the department. An application |
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| 29 | 29 | | that is submitted during an application cycle that is based on an |
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| 30 | 30 | | earlier qualified allocation plan is governed by the law in effect |
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| 31 | 31 | | on the date the application cycle began, and the former law is |
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| 32 | 32 | | continued in effect for that purpose. |
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| 33 | 33 | | SECTION 3. This Act takes effect September 1, 2025. |
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