As established under §171.566 of the Tax Code, a Priority Allocation of five million will be allocated to previously awarded Developments which the Department determines require an allocation of credits under this subsection to secure feasibility. Requests for the allocation under this subsection must meet the following criteria to be eligible for the award.

1. (1) Must not be financed through tax exempt bonds;
2. (2) The Owners or Developers of which have owned the land necessary for the Development since at least December 31, 2022; and
3. (3) Received an allocation of federal tax credits under the QAP issued by the Department for 2021 or 2022.

Source Note:The provisions of this §11.1004 adopted to be effective December 31, 2023, 48 TexReg 7887.