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SB 976 would amend the Government Code to permit the combining of more than one qualified residential rental projects into a single project as part of a housing authority's participation in a program if certain qualifications are met. SB 976 would require an application to combine projects to be accompanied by a nonrefundable fee of $5,000 for each project included in the application for the combined project.
SB 976 would provide that the Bond Review Board shall retain 20
percent to offset the costs of the private activity bond allocation program and the Bond Review
Board would be required to transfer the remaining 80 percent to the Texas Department of Housing
and Community Affairs to be used for use in the
affordable housing research and information program.
SB 976 seeks to allow multiple eligible plats to be combined during the application process. The new process for combined applications would have the same application provisions as single applications. This new process will reduce the bureaucratic burden placed on private business, even if only slightly. We support this legislation as a step in the right direction toward a more limited government.