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Presentation, discussion, and possible action on the proposed repeal of 10 TAC Chapter 11 concerning the Housing Tax Credit Program Qualified Allocation Plan, proposed new 10 TAC Chapter 11 concerning the Housing Tax Credit Program Qualified Allocation Plan, and directing their publication for public comment in the Texas Register
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RECOMMENDED ACTION
recommendation
WHEREAS, the Texas Department of Housing and Community Affairs (the Department) is authorized by Tex. Gov’t Code Ch. 2306, Subchapter DD, to make Housing Tax Credit allocations for the State of Texas;
WHEREAS, pursuant to Tex. Gov’t Code §2306.053 the Department is authorized to adopt rules governing the administration of the Department and its programs;
WHEREAS, the Department, as required by §42(m)(1) of the Internal Revenue Code and Tex. Gov’t Code §2306.67022, developed this proposed Qualified Allocation Plan (QAP) to establish the procedures and requirements relating to an allocation of Housing Tax Credits;
WHEREAS, upon approval of the proposed QAP, the rule will be made available for public comment in the Texas Register through October 9, 2026, and then returned to the Board for final approval; and
WHEREAS, pursuant to Tex. Gov’t Code §2306.6724, the Board shall adopt a proposed Qualified Allocation Plan no later than September 30 and, on or before November 15, submit it to the Governor to approve, reject, or modify and approve no later than December 1;
NOW, therefore, it is hereby
RESOLVED, that the proposed repeal of 10 TAC Chapter 11, and a proposed new 10 TAC Chapter 11 concerning the Housing Tax Credit Qualified Allocation Plan together with the preambles presented to this meeting, are hereby approved for publication in the Texas Register for public comment; 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 proposed Qualified Allocation Plan, ...
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