Bill

HB 2926

84(R) - 2015
House Urban Affairs
House Urban Affairs

Companion Bill

SB 1804

Vote Recommendation

No
  • Negative
  • Neutral
  • Negative
  • Neutral
  • Negative

Author(s)

Rafael Anchia

Co-Author(s)

Cesar Blanco

Bill Caption

Relating to low income housing tax credits awarded for at-risk developments.

Fiscal Notes

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.  

Bill Analysis

HB 2926 seeks to include a development that proposes to rehabilitate or reconstruct housing units that receive assistance or will receive assistance through the Rental Assistance Demonstration program administered by the United States Department of Housing and Urban Development (HUD) as specified by the Consolidated and Further Continuing Appropriations Act of 2012 (Pub. L. No. 112-55) to the definition of "at-risk development", if the application for assistance through the Rental Assistance Demonstration program is included in the applicable public housing authority's annual plan that was most recently approved by HUD as specified by 24 C.F.R. Section 903.23, and the applicant certifies in writing that the application for assistance through the Rental Assistance Demonstration program is consistent with that authority's obligation to affirmatively further fair housing.

Vote Recommendation Notes

HB 2926 would include the Rental Assistance Demonstration (RAD) program, which helps provide funding for property improvements, to the list of programs eligible for at-risk set aside federal tax credits. As such this bill would expand the pool of projects eligible for the tax credits which would drive up competition for those credits, expand the number of subsidized projects, and thus continue to perpetuate that bad policy of subsidized housing which distorts free markets, confers special privileges, and reduces personal responsibility. On these grounds we oppose HB 2926. 

The second chamber sponsor is Senator Hinojosa.