Texas Administrative Code › Title 10 - COMMUNITY DEVELOPMENT › Part 1 - TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS › Chapter 12 - MULTIFAMILY HOUSING REVENUE BOND RULES › Section 12.1 - General

Current through Reg. 49, No. 28; July 12, 2024
(a) Authority. The rules in this chapter
				apply to the issuance of multifamily housing revenue bonds, notes, or other
				evidences of indebtedness (Bonds) by the Texas Department of Housing and
				Community Affairs (Department). The Department is authorized to issue Bonds
				pursuant to Tex. Gov't Code, Chapter 2306. Notwithstanding anything in this
				chapter to the contrary, Bonds which are issued to finance the Development of
				multifamily rental housing are subject to the requirements of the laws of the
				State of Texas, including but not limited to Tex. Gov't Code, Chapters 1372 and
				2306, and federal law pursuant to the requirements of Internal Revenue Code
				(Code), §142.
(b) General. The
				purpose of this chapter is to state the Department's requirements for issuing
				Bonds, the procedures for applying for Bonds and the regulatory and land use
				restrictions imposed upon Bond financed Developments. The provisions contained
				in this chapter are separate from the rules relating to the Department's
				administration of the Housing Tax Credit program. Applicants seeking a Housing
				Tax Credit Allocation should consult Chapter 11 of this part (relating to the
				Housing Tax Credit Program Qualified Allocation Plan) for the current program
				year. In general, the Applicant will be required to satisfy the eligibility and
				threshold requirements of the Qualified Allocation Plan (QAP) in effect at the
				time the Certificate of Reservation is issued by the Texas Bond Review Board
				(TBRB). If the applicable QAP contradicts rules set forth in this chapter, the
				applicable QAP will take precedence over the rules in this chapter except in an
				instance of a conflicting statutory requirement, which shall always take
				precedence. To the extent applicable to each specific Bond issuance, the
				Department's conduit multifamily Bond transactions will be processed in
				accordance with 34 TAC Part 9, Chapter 181, Subchapter A (relating to Bond
				Review Board Rules) and Tex. Gov't Code, Chapter 1372.
(c) Costs of Issuance. The Applicant shall be
				responsible for payment of all costs related to the preparation and submission
				of the pre-application and Application, including but not limited to, costs
				associated with the publication and posting of required public notices and all
				costs and expenses associated with the issuance of the Bonds, regardless of
				whether the Application is ultimately approved or whether Bonds are ultimately
				issued. At any point during the process, the Applicant is solely responsible
				for determining whether to proceed with the Application and the Department
				disclaims any and all responsibility and liability in this regard.
(d) Taxable Bonds. The Department may issue
				taxable Bonds and the requirements associated with such Bonds, including
				occupancy requirements, shall be determined by the Department on a case by case
				basis. Taxable bonds will not be eligible for an allocation of tax
				credits.
(e) Waivers and Appeals.
				Requests for any permitted waivers of program rules must be made in accordance
				with §11.207 of this part (relating to Waiver of Rules). The process for
				appeals and grounds for appeals may be found under §1.7 of this part
				(relating to Appeals Process).