Texas SB2549 modifies housing tax credit allocation rules for developments in certain municipalities and disaster areas.

Texas SB2549 amends the allocation rules for housing tax credits, allowing the Texas Department of Housing and Community Affairs to allocate credits to multiple developments within the same community if specific conditions are met. This applies to municipalities with populations of 750,000 or more and federally declared disaster areas, provided the governing body has authorized the allocation and is authorized to administer disaster recovery funds. The changes apply to applications submitted after the 2026 qualified allocation plan, with earlier applications governed by existing law.

Texas SB2549 modifies housing tax credit allocation rules for developments in certain municipalities and disaster areas.

Texas SB2549 amends the allocation rules for housing tax credits, allowing the Texas Department of Housing and Community Affairs to allocate credits to multiple developments within the same community if specific conditions are met. This applies to municipalities with populations of 750,000 or more and federally declared disaster areas, provided the governing body has authorized the allocation and is authorized to administer disaster recovery funds. The changes apply to applications submitted after the 2026 qualified allocation plan, with earlier applications governed by existing law.