Tex. Gov't Code Section 2306.6706
Additional Application Requirement: Nonprofit Set-aside Allocation


(a)

In addition to the information required by Section 2306.6705 (General Application Requirements), an application for a housing tax credit allocation from the nonprofit set-aside, as defined by Section 42(h)(5), Internal Revenue Code of 1986 (26 U.S.C. Section 42(h)(5)), must contain the following written, detailed information with respect to each development owner and each general partner of a development owner:

(1)

Internal Revenue Service documentation of designation as a Section 501(c)(3) or 501(c)(4) organization;

(2)

evidence that one of the exempt purposes of the nonprofit organization is to provide low income housing;

(3)

a description of the nonprofit organization’s participation in the construction or rehabilitation of the development and in the ongoing operations of the development;

(4)

evidence that the nonprofit organization prohibits a member of its board of directors, other than a chief staff member serving concurrently as a member of the board, from receiving material compensation for service on the board;

(5)

a third-party legal opinion stating that the nonprofit organization is not affiliated with or controlled by a for-profit organization and the basis for that opinion;

(6)

a copy of the nonprofit organization’s most recent audited financial statement;

(7)

a list of the names and home addresses of members of the board of directors of the nonprofit organization;

(8)

a third-party legal opinion stating that the nonprofit organization is eligible under Subsection (b) for a housing tax credit allocation from the nonprofit set-aside and the basis for that opinion; and

(9)

evidence that a majority of the members of the nonprofit organization’s board of directors principally reside:

(A)

in this state, if the development is located in a rural area; or

(B)

not more than 90 miles from the development in the community in which the development is located, if the development is not located in a rural area.

(b)

To be eligible for a housing tax credit allocation from the nonprofit set-aside, a nonprofit organization must:

(1)

control a majority of the development;

(2)

if the organization’s application is filed on behalf of a limited partnership, be the managing general partner; and

(3)

otherwise meet the requirements of Section 42(h)(5), Internal Revenue Code of 1986 (26 U.S.C. Section 42(h)(5)).
Added by Acts 2001, 77th Leg., ch. 1367, Sec. 8.01, eff. Sept. 1, 2001.

Source: Section 2306.6706 — Additional Application Requirement: Nonprofit Set-aside Allocation, https://statutes.­capitol.­texas.­gov/Docs/GV/htm/GV.­2306.­htm#2306.­6706 (accessed Mar. 23, 2024).

2306.001
Purposes
2306.002
Policy
2306.003
Public Purpose
2306.004
Definitions
2306.005
References to Former Law
2306.006
Rules of Abolished Agencies
2306.007
Establishing Economically Depressed or Blighted Areas
2306.008
Preservation of Affordable Housing
2306.022
Application of Sunset Act
2306.024
Board Members: Appointment and Composition
2306.025
Terms of Board Members
2306.027
Eligibility
2306.028
Training
2306.030
Presiding Officer
2306.031
Members’ Compensation
2306.032
Board Meetings
2306.033
Removal of Members
2306.034
Disqualification of Members and Certain Employees
2306.035
Lobbyist Restriction
2306.036
Employment of Director
2306.037
Director’s Compensation
2306.038
Acting Director
2306.039
Open Meetings and Open Records
2306.040
Department Participation in Legislative Hearing
2306.041
Imposition of Penalty
2306.042
Amount of Penalty
2306.043
Report and Notice of Violation and Penalty
2306.044
Penalty to Be Paid or Hearing Requested
2306.045
Hearing
2306.046
Decision by Board
2306.047
Options Following Decision: Pay or Appeal
2306.048
Stay of Enforcement of Penalty
2306.049
Decision by Court
2306.050
Remittance of Penalty and Interest
2306.051
Separation of Responsibilities
2306.052
Director’s Powers and Duties
2306.053
Department Powers and Duties
2306.054
Special Advisory Councils
2306.055
Transfers from Governor
2306.056
Committees
2306.057
Compliance Assessment Required for Project Approval by Board
2306.061
Standards of Conduct
2306.063
Performance Evaluations
2306.064
Equal Employment Opportunities
2306.065
Discrimination Prohibited
2306.066
Information and Complaints
2306.067
Loaned Employees
2306.068
Interagency Cooperation
2306.069
Legal Counsel
2306.071
Funds
2306.072
Annual Low Income Housing Report
2306.073
Internal Audit
2306.074
Audit
2306.075
Tax Exemption
2306.076
Insurance
2306.077
Internet Availability
2306.078
Information Regarding Housing for Persons with Disabilities
2306.080
Database Information Specialist
2306.081
Project Compliance
2306.082
Negotiated Rulemaking
2306.083
Application Requirement for Colonias Projects
2306.092
Duties Regarding Certain Programs Created Under Federal Law
2306.093
Housing Assistance Goal
2306.094
Services for the Homeless
2306.097
Energy Services Program for Low-income Individuals
2306.111
Housing Funds
2306.112
Preparation and Content of Annual Budget
2306.113
Board Consideration of Annual Budget
2306.114
Filing of Annual Budget
2306.115
Failure to Adopt Annual Budget
2306.116
Amended Annual Budget
2306.117
Payment of Expenses
2306.118
Deposit of Funds with Texas Treasury Safekeeping Trust Company
2306.119
Selection of Depository for Operating Funds
2306.120
Selection of Depository Under Covenants of Bonds or Trust Indentures
2306.121
Records
2306.123
Area Median Income
2306.124
Rules Regarding Housing Developments
2306.125
Court Actions
2306.126
Exemption from Property Tax
2306.127
Priority for Certain Communities
2306.141
Rules
2306.142
Authorization of Bonds
2306.143
Alternative to Subprime Lender List
2306.144
Fees for Services and Facilities
2306.145
Loan Procedures
2306.146
Interest Rates and Amortization Schedules
2306.147
Fees and Penalties
2306.148
Underwriting Standards
2306.149
Approved Mortgage Lenders
2306.150
Property Standards
2306.151
Target Strategy for Bond Proceeds
2306.152
Eligibility Criteria
2306.171
General Duties of Department Relating to Purposes of Housing Finance Division
2306.172
Acquisition and Use of Money
2306.173
Investments
2306.174
Acquisition and Disposition of Property
2306.175
Transfer and Disposition of Property
2306.176
Fees
2306.177
Hearings
2306.178
Insurance
2306.179
Investigation
2306.180
Encouraging Home Ownership
2306.181
Targeting Bond Proceeds
2306.182
Loans to Lenders
2306.183
Needs of Qualifying Individuals and Families in Rural Areas and Small Municipalities
2306.184
Disclosure of Fees
2306.185
Long-term Affordability and Safety of Multifamily Rental Housing Developments
2306.186
Mandatory Deposits to Fund Necessary Repairs
2306.187
Energy Efficiency Standards for Certain Single and Multifamily Dwellings
2306.188
Establishing Home Ownership in Disaster Area
2306.201
Housing Trust Fund
2306.202
Use of Housing Trust Fund
2306.203
Rules Regarding Administration of Housing Trust Fund
2306.204
Independent Audit of Housing Trust Fund
2306.205
Transfer of Money to Housing Trust Fund
2306.206
Housing Trust Fund Not Subject to Texas Trust Code
2306.207
Reserve Fund
2306.221
Housing Development Loans
2306.222
Contracts and Agreements Regarding Housing Developments
2306.223
Criteria for Financing Housing Development of Housing Sponsor
2306.224
Loan Terms and Conditions
2306.225
Ratio of Loan to Development Cost
2306.226
Interest Rates
2306.227
Prepayment of Mortgage Loans
2306.228
Loan Fees
2306.229
Documents Supporting Mortgage Loans
2306.230
Agreements Regarding Certain Limitations on Housing Sponsors
2306.231
Loan Conditions Relating to Department Powers
2306.232
Texas Housing Agency Loan or Guarantee
2306.251
Property Ownership Program
2306.252
Housing Resource Center
2306.253
Homebuyer Education Program
2306.255
Contract for Deed Conversion Program
2306.256
Affordable Housing Preservation Program
2306.257
Applicant Compliance with State and Federal Laws Prohibiting Discrimination: Certification and Monitoring
2306.258
Transitional Housing Pilot Program
2306.259
Affordable Housing Research and Information Program
2306.261
Supervising Housing Sponsors
2306.262
Uniform Systems of Accounts and Records
2306.263
Reporting
2306.264
Inspections and Examinations
2306.265
Operation, Maintenance, and Repair
2306.266
Fees Relating to Regulation
2306.267
Compliance with Applicable Laws, Rules, and Contract Terms
2306.268
Rents and Charges
2306.269
Tenant and Manager Selection
2306.270
Regulation of Retirement of Capital Investment or Redemption of Stock
2306.271
Cost Controls
2306.272
Housing Sponsor Investments
2306.273
Limitation on Application of Certain Provisions of Subchapter
2306.291
Purchase and Sale of Mortgage Loans
2306.292
Eligibility of Mortgage Loans for Purchase
2306.293
Federally Assisted Mortgage Loans
2306.294
Mortgage Loan Purchase Price
2306.295
Rules Governing Purchase and Sale of Mortgage Loans
2306.296
Review and Substitution of Purchased Mortgage Loans
2306.297
Application of Provisions Relating to Loan Terms and Conditions
2306.0321
Appeal of Board and Department Decisions
2306.351
Issuance of Bonds
2306.352
Texas Housing Bonds
2306.353
Revenue Bonds
2306.354
Definitive Refunding Bonds
2306.355
Issuance of Additional Parity or Subordinate Lien Bonds
2306.356
Issuance of Bonds to Fund Department Reserves or Funds
2306.357
Bonds Issued by Texas Housing Agency
2306.359
Issuance of Private Activity Bonds
2306.371
Board Authorization of Bonds
2306.372
Department Procedures
2306.373
Use of Bond Proceeds
2306.374
Facsimile Signatures and Seals
2306.375
Personal Liability of Board Member or Director
2306.391
Form
2306.392
Denomination
2306.393
Manner, Price, and Terms
2306.394
Place of Payment
2306.395
Interest on Bonds
2306.396
Maturity of Bonds
2306.397
Redemption Before Maturity
2306.411
Security for Payment of Principal, Interest, and Redemption Premium
2306.412
Validity of Liens and Pledges
2306.431
Approval of Bonds
2306.432
Registration
2306.433
Execution
2306.451
State Pledge Regarding Bondholder Rights and Remedies
2306.452
Payment Enforceable by Mandamus
2306.471
General Obligation Bonds
2306.472
Department’s Bonds Other than General Obligation Bonds Not Obligations of the State
2306.473
State Not Obligated to Pay
2306.491
Bonds Negotiable Instruments
2306.492
Bonds Incontestable
2306.493
Signature of Former Officer
2306.494
Bonds Not Taxable
2306.495
Authorized Investments
2306.496
Security for Deposit of Funds
2306.497
Mutilated, Lost, Stolen, or Destroyed Bonds
2306.498
No Gain Allowed
2306.0501
Release of Bond
2306.0502
Collection of Penalty
2306.0503
Administrative Procedure
2306.0504
Debarment from Program Participation
2306.511
Definition
2306.512
Special Needs
2306.513
Housing for Individuals with Special Needs
2306.514
Construction Requirements for Single Family Affordable Housing
2306.0521
Organizational Flexibility of Department
2306.541
Natural Disaster Housing Reconstruction Advisory Committee
2306.542
Housing Reconstruction Demonstration Pilot Program
2306.551
Definition
2306.552
Creation
2306.553
Purposes
2306.554
Board of Directors and Officers
2306.555
Powers
2306.556
Exempt from Taxation and Registration
2306.557
Distribution of Earnings
2306.558
Alteration and Termination
2306.559
Reporting Requirements
2306.560
Audit
2306.561
Liability
2306.563
Public Benefit Requirement
2306.565
Issuance of Qualified Residential Rental Project Bonds
2306.566
Coordination Regarding State Low Income Housing Plan
2306.567
Compliance Information
2306.568
Record of Complaints
2306.569
Effective Use of Technology
2306.581
Definition
2306.582
Colonia Self-help Centers: Establishment
2306.583
Self-help Centers: Designation
2306.584
Colonia Resident Advisory Committee
2306.585
Duties of Colonia Resident Advisory Committee
2306.586
Self-help Center: Purpose and Services
2306.587
Operation of Self-help Center
2306.588
Department Liaison to Self-help Centers
2306.589
Colonia Set-aside Fund
2306.590
Colonia Initiatives Advisory Committee
2306.591
Manufactured Homes Installed in Colonias
2306.0705
General Appropriations Act
2306.0721
Low Income Housing Plan
2306.0722
Preparation of Plan and Report
2306.0723
Report Considered as Rule
2306.0724
Fair Housing Sponsor Report
2306.751
Definition
2306.752
Owner-builder Loan Program
2306.753
Owner-builder Eligibility
2306.754
Amount of Loan
2306.755
Nonprofit Owner-builder Housing Programs
2306.756
Owner-builder Education Classes
2306.757
Loan Priority for Waiver of Local Government Fees
2306.758
Funding
2306.781
Definition
2306.782
Establishment of Program
2306.783
Colonia Model Subdivision Revolving Loan Fund
2306.784
Subdivision Compliance
2306.785
Program Loans
2306.786
Administration of Program
2306.801
Definition
2306.802
Multifamily Housing Preservation Classes
2306.803
At-risk Multifamily Housing: Identification, Prioritization, and Preservation
2306.804
Use of Housing Preservation Resources
2306.805
Housing Preservation Incentives Program
2306.851
Application
2306.852
Property Owner Restriction
2306.853
Notice of Intent
2306.901
Definition
2306.902
Advisory Role
2306.903
Membership
2306.904
Operation of Council
2306.905
Duties of Council
2306.906
Duties of State Agency Council Members
2306.907
Public Hearings
2306.908
Report
2306.909
Gifts and Grants
2306.910
Meeting by Teleconference
2306.921
Definitions
2306.922
License Required
2306.923
License Application
2306.924
Inspection
2306.925
Failure to Meet Standards
2306.926
License Issuance
2306.927
License Posting
2306.928
Inspection of Facilities
2306.929
Fee
2306.930
Suspension or Revocation of License
2306.931
Enforcement
2306.932
Injunctive Relief
2306.933
Civil Penalty
2306.0985
Recovery of Funds from Certain Subdivisions
2306.1071
Definitions
2306.1072
Texas First-time Homebuyer Program
2306.1073
Administration of Program
2306.1074
Eligibility
2306.1075
Fees
2306.1076
Funding
2306.1091
Definitions
2306.1092
Composition
2306.1093
Terms
2306.1094
Operation of Council
2306.1095
Compensation and Reimbursement
2306.1096
Duties
2306.1097
Gifts and Grants
2306.1098
Duties of Employees Providing Advisory Support to Council
2306.1101
Definition
2306.1111
Uniform Application and Funding Cycles
2306.1113
Ex Parte Communications
2306.1114
Notice of Receipt of Application or Proposed Application
2306.1115
Regional Allocation Formula
2306.1121
Definition
2306.1122
Approval Required
2306.1123
Plan Requirements
2306.1124
Approval of Certain Property Prohibited
2306.1231
Federal Poverty Line
2306.1711
Rulemaking Procedures for Certain Programs
2306.2561
Affordable Housing Preservation Program: Loans and Grants
2306.2585
Homeless Housing and Services Program
2306.2631
Reports by Sponsors of Certain Multifamily Housing Developments
2306.5521
Sunset Provision
2306.5541
Terms of Members
2306.5542
Removal of Members
2306.5543
Training
2306.5545
Conflict of Interest Policies
2306.5546
Standards of Conduct
2306.5547
Division of Responsibility
2306.5548
Equal Employment Opportunity Policy
2306.5549
Meetings of the Corporation’s Board
2306.5551
Board Delegation of Authority to Issue Bonds or Other Obligations
2306.5552
Technical and Financial Assistance Provided to Nonprofit Organizations
2306.5553
Historically Underutilized Businesses
2306.5555
Public Access
2306.5621
Homes for Texas Heroes Home Loan Program
2306.5671
Compliance with Terms of Certain Contracts or Agreements
2306.6001
Definitions
2306.6002
Regulation and Enforcement
2306.6003
Manufactured Housing Board
2306.6004
Manufactured Housing Board Membership
2306.6005
Conflict of Interest
2306.6006
Terms
2306.6007
Presiding Officer
2306.6008
Grounds for Removal
2306.6009
Reimbursement
2306.6010
Meetings
2306.6011
Training
2306.6012
Appropriations
2306.6013
Budget
2306.6014
Division Director
2306.6015
Personnel
2306.6016
Separation of Responsibilities
2306.6017
Standards of Conduct
2306.6018
Equal Employment Opportunity
2306.6020
Rules
2306.6021
Public Participation
2306.6022
Complaints
2306.6023
Negotiated Rulemaking and Alternative Dispute Resolution
2306.6701
Purpose
2306.6702
Definitions
2306.6703
Ineligibility for Consideration
2306.6704
Preapplication Process
2306.6705
General Application Requirements
2306.6706
Additional Application Requirement: Nonprofit Set-aside Allocation
2306.6707
Additional Application Requirement: Disclosure of Interested Persons
2306.6708
Application Changes or Supplements
2306.6709
Application Log
2306.6710
Evaluation and Underwriting of Applications
2306.6711
Allocation of Housing Tax Credits
2306.6712
Amendment of Application Subsequent to Allocation by Board
2306.6713
Housing Tax Credit and Ownership Transfers
2306.6714
At-risk Development Set-aside
2306.6715
Appeal
2306.6716
Fees
2306.6717
Public Information and Hearings
2306.6718
Elected Officials
2306.6719
Monitoring of Compliance
2306.6720
Enforceability of Applicant Representations
2306.6722
Development Accessibility
2306.6723
Coordination with Rural Development Agency
2306.6724
Deadlines for Allocation of Low Income Housing Tax Credits
2306.6725
Scoring of Applications
2306.6726
Sale of Certain Low Income Housing Tax Credit Developments
2306.6727
Department Purchase of Low Income Housing Tax Credit Property
2306.6728
Department Policy and Procedures Regarding Recipients of Certain Federal Housing Assistance
2306.6729
Qualified Nonprofit Organization
2306.6730
Accessibility Required
2306.6731
Allocation Decision
2306.6733
Representation by Former Board Member or Other Person
2306.6734
Minority-owned Businesses
2306.6735
Required Lease Agreement Provisions
2306.6738
Prohibited Practices
2306.6739
Housing Tax Credits Financed Using Federal Emergency Funds
2306.6740
Designation of Certain Areas as Rural
2306.67021
Applicability of Subchapter
2306.67022
Qualified Allocation Plan
2306.67041
On-line Application System
2306.67055
Market Analysis
2306.67071
Additional Application Requirement: Notice, Hearing, and Resolution by Certain Governing Bodies
2306.67171
Electronic Mail Notification Service

Accessed:
Mar. 23, 2024

§ 2306.6706’s source at texas​.gov