84th Texas Legislature, Regular Session, House Bill 3535, Chapter 976 Page: 1 of 9
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H.B. No. 3535
1 AN ACT
2 relating to low income housing tax credits awarded for certain
4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
5 SECTION 1. Section 2306.6711, Government Code, is amended
6 by adding Subsection (g) to read as follows:
7 (g) Except as necessary to comply with the nonprofit
8 set-aside required by Section 42(h)(5), Internal Revenue Code of
9 1986 (26 U.S.C. Section 42(h)(5)), in an urban subregion of a
10 uniform state service region that contains a county with a
11 population of more than 1.7 million, the board shall allocate
12 housing tax credits to the highest scoring development, if any,
13 that is part of a concerted plan of revitalization and is located in
14 that urban subregion in a municipality with a population of 500,000
15 or more.
16 SECTION 2. The change in law made by this Act applies only
17 to the allocation of low income housing tax credits for an
18 application cycle that begins on or after January 1, 2017. The
19 allocation of low income housing tax credits for an application
20 cycle that begins before January 1, 2017, is governed by the law in
21 effect on the date the application cycle began, and the former law
22 is continued in effect for that purpose.
23 SECTION 3. This Act takes effect September 1, 2015.
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Texas. Legislature. House of Representatives. 84th Texas Legislature, Regular Session, House Bill 3535, Chapter 976, legislative document, June 19, 2015; [Austin, Texas]. (texashistory.unt.edu/ark:/67531/metapth704639/m1/1/: accessed November 14, 2018), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; crediting UNT Libraries Government Documents Department.