Sec. 2306.6701. PURPOSE. The department shall administer the low income housing tax credit program to:
(1) encourage the development and preservation of appropriate types of rental housing for households that have difficulty finding suitable, affordable rental housing in the private marketplace;
(2) maximize the number of suitable, affordable residential rental units added to the state's housing supply;
(3) prevent losses for any reason to the state's supply of suitable, affordable residential rental units by enabling the rehabilitation of rental housing or by providing other preventive financial support under this subchapter; and
(4) provide for the participation of for-profit organizations and provide for and encourage the participation of nonprofit organizations in the acquisition, development, and operation of affordable housing developments in urban and rural communities.
Added by Acts 2001, 77th Leg., ch. 1367, Sec. 8.01, eff. Sept. 1, 2001.
Section: Previous 2306.6016 2306.6017 2306.6018 2306.6020 2306.6021 2306.6022 2306.6023 2306.6701 2306.6702 2306.67021 2306.67022 2306.6703 2306.6704 2306.67041 2306.6705 NextLast modified: September 28, 2016