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Presentation, discussion, and possible action on an order adopting the repeal of 10 TAC Chapter 12, concerning the Multifamily Housing Revenue Bond Rules, and an order adopting new 10 TAC Chapter 12 concerning the Multifamily Housing Revenue Bond Rules, and directing the publication in the Texas Register
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RECOMMENDED ACTION
recommendation
WHEREAS, the Texas Department of Housing and Community Affairs (the Department) is authorized to issue multifamily housing revenue bonds for the State of Texas;
WHEREAS, the Department developed the Multifamily Housing Revenue Bond Rules to establish the procedures and requirements relating to the issuance of bonds;
WHEREAS, the proposed repeal and new 10 TAC Chapter 12 were published in the September 20, 2024, issue of the Texas Register for public comment; and
WHEREAS, the public comment period ended October 18, 2024, and no comments were received relating to this rule;
NOW, therefore, it is hereby
RESOLVED, that the final order adopting the repeal and new 10 TAC Chapter 12 regarding the Multifamily Housing Revenue Bond Rules, together with the preamble presented to this meeting, are approved for publication in the Texas Register, and
FURTHER RESOLVED that the Executive Director and his designees be and each of them are hereby authorized, empowered, and directed for and on behalf of the Department, to cause the amendments to the Multifamily Housing Revenue Bond Rules, together with the preamble in the form presented to this meeting, to be published in the Texas Register and in connection therewith, make non-substantive technical corrections as they may deem necessary to effectuate the foregoing.
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BACKGROUND
The Board approved the proposed changes to Chapter 12 regarding the 2024 Multifamily Housing Revenue Bond Rules (the Bond Rules) at the Board meeting of September 5, 2024, to be published in the Texas Register for public comment. The Department did not receive any comments relating to the Bond Rules. Staff is recommending the Bond Rules be adopted as reflected herein. Staff notes that should there be changes made to the 2025 QAP by the Board that would affect the Bond Rules, staff will make those changes required for consistency.