Texas SB2471 sets aside low income housing tax credits for at-risk housing developments and allocates these credits to eligible developments.

Texas SB2471 amends the Government Code to redefine "at-risk development" and adjust the allocation of low income housing tax credits. The bill mandates that at least 15% of housing tax credits be set aside for eligible at-risk developments, with further allocation based on applicant eligibility. At-risk developments include those receiving federal subsidies or assistance. The bill also allocates 5% of housing tax credits to developments receiving federal financial assistance from the United States Department of Agriculture.

Texas SB2471 sets aside low income housing tax credits for at-risk housing developments and allocates these credits to eligible developments.

Texas SB2471 amends the Government Code to redefine "at-risk development" and adjust the allocation of low income housing tax credits. The bill mandates that at least 15% of housing tax credits be set aside for eligible at-risk developments, with further allocation based on applicant eligibility. At-risk developments include those receiving federal subsidies or assistance. The bill also allocates 5% of housing tax credits to developments receiving federal financial assistance from the United States Department of Agriculture.