Bill Text: TX HB3437 | 2015-2016 | 84th Legislature | Introduced
Bill Title: Relating to application requirements for low income housing tax credits.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2015-04-07 - No action taken in committee [HB3437 Detail]
Download: Texas-2015-HB3437-Introduced.html
| 84R11992 JAM-D | ||
| By: Riddle | H.B. No. 3437 | |
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| relating to application requirements for low income housing tax | ||
| credits. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Sections 2306.67071(a) and (c), Government Code, | ||
| are amended to read as follows: | ||
| (a) Before submitting to the department an application for | ||
| housing tax credits, including housing tax credits for developments | ||
| financed through the private activity bond program, including | ||
| private activity bonds issued by the department, the Texas State | ||
| Affordable Housing Corporation, or a local issuer, an applicant | ||
| must provide notice of the intent to file the application to: | ||
| (1) the governing body of a municipality in which the | ||
| proposed development site is to be located; | ||
| (2) subject to Subdivision (3), the commissioners | ||
| court of a county in which the proposed development site is to be | ||
| located, if the proposed site is to be located in an area of a county | ||
| that is not part of a municipality; or | ||
| (3) the commissioners court of a county in which the | ||
| proposed development site is to be located and the governing body of | ||
| the applicable municipality, if the proposed site is to be located | ||
| in the extraterritorial jurisdiction of a municipality. | ||
| (c) The board may not approve an application for housing tax | ||
| credits, including housing tax credits for developments financed | ||
| through the private activity bond program, unless the applicant has | ||
| submitted to the department a certified copy of a resolution from | ||
| each applicable governing body described by Subsection (a). The | ||
| resolution must certify that: | ||
| (1) notice has been provided to each governing body as | ||
| required by Subsection (a); | ||
| (2) each governing body has had sufficient opportunity | ||
| to obtain a response from the applicant regarding any questions or | ||
| concerns about the proposed development; | ||
| (3) each governing body has held a hearing under | ||
| Subsection (b); and | ||
| (4) after due consideration of the information | ||
| provided by the applicant and public comment, the governing body | ||
| does not object to the proposed application. | ||
| 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 begins on or after the effective | ||
| date of this Act. An application that is submitted during an | ||
| application cycle that began before the effective date of this Act | ||
| is governed by the law in effect at the time the application cycle | ||
| began, and the former law is continued in effect for that purpose. | ||
| SECTION 3. This Act takes effect September 1, 2015. | ||
