Honorable Carol Alvarado, Chair, House Committee on Urban Affairs
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB3535 by Collier (Relating to low income housing tax credits awarded for proposed developments in targeted areas for revitalization.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Government Code relating to low income housing tax credits awarded for proposed developments in targeted areas for revitalization. Based on the analysis of the Department of Housing and Community Affairs, duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.
Local Government Impact
There could be costs to a local governmental entity that chose to create a Revitalization Development. However, it is assumed that municipality would create a Revitalization Development only if sufficient funds were available or it would not result in a negative fiscal impact; therefore, no significant fiscal impact is anticipated.