Texas § GV.2306.359 - ISSUANCE OF PRIVATE ACTIVITY BONDS
Full text of Texas The Texas Constitution § GV.2306.359 — ISSUANCE OF PRIVATE ACTIVITY BONDS, with citation guidance and answers to common questions.
§ GV.2306.359. ISSUANCE OF PRIVATE ACTIVITY BONDS
ISSUANCE OF PRIVATE ACTIVITY BONDS. (a) In evaluating an application for an issuance of private activity bonds, the department shall score and rank the application using a point system based on criteria that are adopted by the department, including criteria regarding: (1) the income levels of tenants of the development, consistent with the funding priorities provided by Section 1372.0321 ; (2) the rent levels of the units; (3) the level of community support for the application; (4) the period of guaranteed affordability for low income tenants; (5) the cost per unit of the development; (6) the size, quality, and amenities of the units; (7) the services to be provided to tenants of the development; and (8) other criteria as developed by the board. (b) The department shall make available on its website details of the scoring system used by the department to score applications. (c) The department shall underwrite the applications by determining: (1) that the general contractor's profit, overhead, and general requirements are within the maximum limit published by the department; (2) that the developer fee for the proposed project does not exceed the maximum amount allowed by the department; and (3) if applicable, the amount of tax credits available to the proposed development. (d) In adopting criteria for underwriting applications under this section, the department shall attach additional weight to criteria that will determine the maximum amount that can be awarded that will: (1) result in an issuance of private activity bonds for developments serving the lowest income tenants; and (2) produce the greatest number of high-quality units committed to remaining affordable to qualified tenants for extended periods. Added by Acts 2003, 78th Leg., ch. 330, Sec. 15, eff. Sept. 1, 2003. Amended by: Acts 2007, 80th Leg., R.S., Ch. 1341 (S.B. 1908 ), Sec. 25, eff. September 1, 2007. SUBCHAPTER Q. HOUSING FINANCE DIVISION BONDS: BOARD ACTION ON BONDS
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § GV.2306.359
What does The Texas Constitution § GV.2306.359 cover?
Section GV.2306.359 ("ISSUANCE OF PRIVATE ACTIVITY BONDS") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § GV.2306.359?
A common citation format is "The Texas Constitution § GV.2306.359" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § GV.2306.359 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.