Texas SB2608 amends eligibility criteria for low income housing tax credits for at-risk developments.

Texas SB2608 amends the definition of "at-risk development" in the Government Code to expand eligibility for low income housing tax credits. The bill specifies that an at-risk development is one that has received a below-market interest rate loan and faces conditions such as an expiring affordability stipulation or a HUD-insured mortgage nearing its term end. It also includes developments proposing to rehabilitate or reconstruct housing units that have received certain federal assistance.

Texas SB2608 amends eligibility criteria for low income housing tax credits for at-risk developments.

Texas SB2608 amends the definition of "at-risk development" in the Government Code to expand eligibility for low income housing tax credits. The bill specifies that an at-risk development is one that has received a below-market interest rate loan and faces conditions such as an expiring affordability stipulation or a HUD-insured mortgage nearing its term end. It also includes developments proposing to rehabilitate or reconstruct housing units that have received certain federal assistance.