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Texas Governor Signs Legislation Prioritizing PABs to Properties Needing Additional Bonds to Stay Compliant with Financed-By Test

Wednesday, June 21, 2023 - 11:45AM

Texas Gov. Greg Abbott signed legislation this week that gives priority in the allocation of multifamily housing private activity bonds (PABs) to properties that previously received an allocation but need additional PAB issuance to maintain compliance with the 50% financed-by test. H.B. 1766 gives priority to properties that have closed on a previous reservation of PABs and have applied for 4% low-income housing tax credits (LIHTCs) in the previous four years.

The Novogradac Tax-Exempt Bond Handbook is a comprehensive, single-volume resource for all the regulations, guidance and legislation on the use of tax-exempt bonds in multifamily housing developments.

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