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A BILL TO BE ENTITLED
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AN ACT
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relating to the allocation of low income housing tax credits. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 2306.6710(a), Government Code, is |
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amended to read as follows: |
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(a) In evaluating an application, the department shall |
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determine whether the application satisfies the threshold criteria |
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required by the board in the qualified allocation plan. |
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Educational Quality may be considered by the department as part of |
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the threshold criteria but shall not be considered by the |
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department under Section 2306.6710(b). The department shall reject |
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and return to the applicant any application that fails to satisfy |
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the threshold criteria. |
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SECTION 2. The change in law made by this Act applies only |
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to an application for low income housing tax credits that is |
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submitted to the Texas Department of Housing and Community Affairs |
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during an application cycle that is based on the 2018 qualified |
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allocation plan or a subsequent plan adopted by the governing board |
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of the department u |
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nder Section 2306.67022, Government Code. An |
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application that is submitted during an application cycle that is |
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based on an earlier qualified allocation plan is governed by the law |
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in effect on the date the application cycle began, and the former |
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law is continued in effect for that purpose. |
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SECTION 3. This Act takes effect September 1, 2017. |