2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle F - Specific Authority for State or Local Government to Issue Securities › Chapter 1372 - Private Activity Bonds and Certain Other Bonds › Subchapter A. General Provisions › Section 1372.002. "Project"

Sec. 1372.002.  "PROJECT".  (a)  For purposes of this chapter, a project is:
(1)  an eligible facility or facilities that are proposed to be financed, in whole or in part, by an issue of qualified residential rental project bonds;
(2)  in connection with an issue of qualified mortgage bonds, the providing of financial assistance to qualified mortgagors located in all or any part of the jurisdiction of the issuer;
(3)  in connection with an issue of qualified student loan bonds:
(A)  if the issuer is the Texas Higher Education Coordinating Board, the provision of financial assistance to students; or
(B)  if an issuer is authorized by Section 53B.47, Education Code, the provision of guaranteed student loans or alternative education loans that satisfy the requirements of Section 53B.47(b), Education Code; or
(4)  an eligible facility or facilities that are proposed to be financed, in whole or in part, by an issue of bonds other than bonds described by Subdivision (1), (2), or (3).
(b)  For purposes of Subsection (a)(2), the jurisdiction of an issuer is determined on the date the issuer's application for reservation is delivered to the board.
(c)  For purposes of Subsection (a)(1), an application under this chapter may include either the rehabilitation or new construction, or both the rehabilitation and new construction, of qualified residential rental facilities located at multiple sites and with respect to which 51 percent or more of the residential units are located:
(1)  in a county with a population of less than 100,000; or
(2)  in a county in which the median income is less than the median income for the state, provided that the units are located in that portion of the county that is not included in a metropolitan statistical area containing one or more projects that are proposed to be financed, in whole or in part, by an issuance of bonds.
(d)  For purposes of Subsection (c), in an application for a reservation, the number of sites may be reduced as needed without affecting their status as a project for purposes of the application, provided that the final application for a reservation contains at least two sites.
(e)  For purposes of Subsection (a)(3), and only for applications for the financing of sewage facilities, solid waste disposal facilities, and qualified hazardous waste facilities, an application under this chapter may include multiple facilities in multiple jurisdictions.  In such an application, the number of facilities may be reduced as needed without affecting their status as a project for purposes of the application.
(f)  Notwithstanding Subsection (c), an applicant to which this subsection applies may aggregate more than one qualified residential rental project into a single, combined project as part of the participation of the housing authority for the applicable municipality in the Rental Assistance Demonstration program administered by the United States Department of Housing and Urban Development, as specified by the Consolidated and Further Continuing Appropriations Act of 2012 (Pub. L. No. 112-55) and its subsequent amendments, if the combined project is related to the municipal housing authority's conversion of public housing units as permitted under that program.
(g)  Subsection (f) applies only to an applicant created by a municipal housing authority established by a municipality that is:
(1)  adjacent to an international boundary of this state; and
(2)  located in a county that contains a municipality with a population of more than 500,000.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 1108 (H.B. 3552), Sec. 1, eff. September 1, 2007.
Acts 2009, 81st Leg., R.S., Ch. 1416 (S.B. 2064), Sec. 5, eff. June 19, 2009.
Acts 2015, 84th Leg., R.S., Ch. 233 (H.B. 2878), Sec. 1, eff. September 1, 2015.
Acts 2019, 86th Leg., R.S., Ch. 992 (S.B. 1474), Sec. 2, eff. September 1, 2019.
Acts 2023, 88th Leg., R.S., Ch. 644 (H.B. 4559), Sec. 52, eff. September 1, 2023.