SB 898

relating to the allocation of low income housing tax credits.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1.  Section 2306.6711(b), Government Code, is
(b)  Not later than the deadline specified in the qualified
allocation plan, the board shall issue commitments for available
housing tax credits based on the application evaluation process
provided by Section 2306.6710.  The board may not allocate to an
applicant housing tax credits in any unnecessary amount, as
determined by the department's underwriting policy and by federal
law, and in any event may not allocate to the applicant housing tax
credits in an amount greater than $6 million in a single application
round or to an individual development more than $3 [$2] million in a
SECTION 2.  Section 2306.6711(b), Government Code, as
amended by this Act, applies only to an application for low income
housing tax credits that is submitted to the Texas Department of
Housing and Community Affairs during an application cycle that is
based on the 2026 qualified allocation plan or a subsequent plan
adopted by the governing board of the department.  An application
that is submitted during an application cycle that is based on an
earlier qualified allocation plan is governed by the law in effect
on the date the application cycle began, and the former law is
continued in effect for that purpose.
SECTION 3.  This Act takes effect September 1, 2025.