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Relating to the allocation of housing tax credits to developments within proximate geographical areas.
No fiscal implication to the State is anticipated.
Current law prohibits allocation of housing tax credits in a single community in the same calendar year unless the developments are more than two linear miles apart.
HB 1839 would add another exemption to allow the board for the Department of Housing and Community Affairs to allocate housing tax credits to more than one development in a single community in one calendar year if the local government had by vote authorized the allocation of housing tax credits for the development.
Texas Action remains neutral on HB 1839 because it does not appear to affect our liberty principles. While we are generally opposed to housing tax credits, we understand that this bill would remove a technicality to ensure more efficient use of federal funds for housing disaster recovery resulting from Hurricane Harvey. An amendment to bracket the bill and sunset its provisions would improve the bill.