Prioridades en Reservas para Proyectos de Alquiler Residencial en Texas

(c) In granting reservations to issuers of qualified residential rental project issues, the board shall give third priority to projects in which 80 percent or more of the residential units in the project are: (1) under the restriction that the maximum allowable rents are an amount equal to 30 percent of 60 percent of the area median family income minus an allowance for utility costs authorized under the federal low-income housing tax credit program; and (2) reserved for families and individuals earning not more than 60 percent of the area median income. (d) In granting reservations to issuers of qualified residential rental project issues, the board shall give fourth priority to any other qualified residential rental project. (e) The board may not reserve a portion of the state ceiling for a first, second, or third priority project described by this section unless the board receives evidence that an application has been filed with the Texas Department of Housing and Community Affairs for the low-income housing tax credit that is available for multifamily transactions that are at least 51 percent financed by tax-exempt private activity bonds. Added by Acts 2001, 77th Leg., ch. 1420, Sec. 8.015(a), eff. Sept. 1, 2001 and Acts 2001, 77th Leg., ch. 1367, Sec. 10.07(a), eff. Sept. 1, Statute text rendered on: 2/14/2025 - 6931 - GOVERNMENT CODE 2001. Amended by Acts 2003, 78th Leg., ch. 330, Sec. 28, eff. Sept. 1, 2003; Acts 2003, 78th Leg., ch. 1329, Sec. 10, eff. Sept. 1, 2003. A