Texas HB2985 amends eligibility criteria for low income housing tax credits for at-risk developments.

Texas HB2985 amends the definition of "at-risk development" in the Government Code to expand eligibility for low income housing tax credits. An at-risk development is defined as a development that has received a subsidy in the form of a below-market interest rate loan, interest rate reduction, rental subsidy, Section 8 housing assistance payment, rental supplement payment, rental assistance payment, or equity incentive under specified federal laws.

Texas HB2985 amends eligibility criteria for low income housing tax credits for at-risk developments.

Texas HB2985 amends the definition of "at-risk development" in the Government Code to expand eligibility for low income housing tax credits. An at-risk development is defined as a development that has received a subsidy in the form of a below-market interest rate loan, interest rate reduction, rental subsidy, Section 8 housing assistance payment, rental supplement payment, rental assistance payment, or equity incentive under specified federal laws.