Bill Text: TX SB493 | 2019-2020 | 86th Legislature | Comm Sub
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to the allocation of housing tax credits to developments within proximate geographical areas.
Spectrum: Moderate Partisan Bill (Democrat 8-1)
Status: (Passed) 2019-06-10 - Effective on 9/1/19 [SB493 Detail]
Download: Texas-2019-SB493-Comm_Sub.html
Bill Title: Relating to the allocation of housing tax credits to developments within proximate geographical areas.
Spectrum: Moderate Partisan Bill (Democrat 8-1)
Status: (Passed) 2019-06-10 - Effective on 9/1/19 [SB493 Detail]
Download: Texas-2019-SB493-Comm_Sub.html
| By: Alvarado | S.B. No. 493 | |
| (In the Senate - Filed January 28, 2019; February 14, 2019, | ||
| read first time and referred to Committee on Intergovernmental | ||
| Relations; April 11, 2019, reported adversely, with favorable | ||
| Committee Substitute by the following vote: Yeas 6, Nays 0; | ||
| April 11, 2019, sent to printer.) | ||
| COMMITTEE SUBSTITUTE FOR S.B. No. 493 | By: Alvarado | |
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| 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 Subsection (f-1) to read as | ||
| follows: | ||
| (f) Except as provided by Subsection (f-1), the [ |
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| 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-1) The board may allocate housing tax credits to more | ||
| than one development in a single community only if: | ||
| (1) the community is located in: | ||
| (A) a county with a population of four million or | ||
| more; and | ||
| (B) an area that is a federally declared disaster | ||
| area; and | ||
| (2) the governing body of the municipality containing | ||
| the development or, if located outside a municipality, the county | ||
| containing the development: | ||
| (A) has by vote specifically authorized the | ||
| allocation of housing tax credits for the development; and | ||
| (B) is authorized to administer disaster | ||
| recovery funds as a subgrant recipient. | ||
| SECTION 2. The changes in law made by this Act apply 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 2020 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, 2019. | ||
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