Bill Text: TX HB3254 | 2019-2020 | 86th Legislature | Introduced
Bill Title: Relating to low income housing tax credits awarded to supportive housing developments
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2019-04-17 - Left pending in committee [HB3254 Detail]
Download: Texas-2019-HB3254-Introduced.html
| By: Rodriguez | H.B. No. 3254 | |
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| relating to low income housing tax credits awarded to supportive | ||
| housing developments | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Section 2306.6711, Government Code, is amended | ||
| by adding Subsection (d-5) to read as follows: | ||
| (d-5) In allocating low income housing tax credit | ||
| commitments under Subchapter DD, the department shall, before | ||
| applying the regional allocation formula prescribed by Section | ||
| 2306.1115, set aside for supportive housing developments, as | ||
| defined by Section 2306.67141, not less than the minimum amount of | ||
| housing tax credits required under Section 2306.67141: | ||
| SECTION 2. Subchapter DD, Chapter 2306, Government Code, is | ||
| amended by adding Section 2306.67141 to read as follows: | ||
| Sec. 2306.67141. SUPPORTIVE HOUSING DEVELOPMENT SET-ASIDE. | ||
| (a) In this section "Supportive Housing Development" means a | ||
| residential rental development that is intended for occupancy by | ||
| households in need of specialized and specific non-medical services | ||
| in order to maintain independent living that: | ||
| (1) meets the definition of "supportive housing" | ||
| adopted by the department under the qualified allocation plan; and | ||
| (2) meets the criteria for supportive housing eligible | ||
| for the low income housing tax credit program as determined by the | ||
| department. | ||
| (b) The department shall set aside for eligible supportive | ||
| housing developments not less than 5 percent of the housing tax | ||
| credits available for allocation in the calendar year. | ||
| (c) The department may not allocate to an individual | ||
| development more than $1 million in a single application round. | ||
| (d) Any amount of housing tax credits set aside under this | ||
| section that remains after the initial allocation of housing tax | ||
| credits is available for allocation to any eligible applicant as | ||
| provided by the | ||
| qualified allocation plan. | ||
| SECTION 3. The changes in law made by this Act apply only to | ||
| an application for low income housing tax credits that is submitted | ||
| on or after the effective date of this Act. An application for low | ||
| income housing tax credits that is submitted before the effective | ||
| date of this Act is governed by the law in effect when the | ||
| application was submitted, and the former law is continued in | ||
| effect for that purpose. | ||
| SECTION 4. This Act takes effect September 1, 2019. | ||
