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Presentation, discussion, and possible action on the adoption of the repeal of 10 TAC Chapter 11 concerning the Housing Tax Credit Program Qualified Allocation Plan, adoption of new 10 TAC Chapter 11 concerning the Housing Tax Credit Program Qualified Allocation Plan, and directing their publication for adoption in the Texas Register following the statutory opportunity for gubernatorial acceptance, revision, or rejection.
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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 Internal Revenue Code ?42(m)(1) and Tex. Gov't ?2306.67022, developed this proposed Qualified Allocation Plan (QAP) to establish the procedures and requirements relating to an allocation of Housing Tax Credits;
WHEREAS, after approval with modifications by the Department's Board on September 5, 2024, the rule was made available for public comment in Texas Register and on the Department's website through October 11, 2024;
WHEREAS, public comment was received from 54 commenters, staff has prepared a reasoned response to those comments summarized in the preambles attached, and where applicable, has proposed responsive revisions for adoption;
WHEREAS, pursuant to Tex. Gov't Code ?2306.6724, the Board shall adopt the QAP and, on or before November 15, submit it to the Governor to approve, reject, or modify and approve not later than December 1; and
WHEREAS, upon action by the Governor, the Department will submit the QAP for its publication in the Texas Register;
NOW, therefore, it is hereby
RESOLVED, that the adoption of the repeal of 10 TAC Chapter 11, and adoption of new 10 TAC Chapter 11 concerning th...
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