By: Alvarado S.B. No. 1963               A BILL TO BE ENTITLED   AN ACT   relating to the qualified allocation plan and manual adopted for   the allocation of low income housing tax credits.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 2306.67022, Government Code, is amended   to read as follows:          Sec. 2306.67022.  QUALIFIED ALLOCATION PLAN; MANUAL. (a)   The [At least biennially, the] board biennially shall adopt a   qualified allocation plan and a corresponding manual to provide   information regarding the administration of and eligibility for the   low income housing tax credit program. The board may not adopt a   [the] plan and manual more frequently than once during each   biennium [annually, as considered appropriate by the board].          (b)  The board biennially shall adjust to reflect inflation   any amount specified in the qualified allocation plan relating to   the acceptable cost of a development by square foot. The board   shall use 2021 as the base year for the adjustment.          (c)  In making the computation under Subsection (b), the   board shall consider the Consumer Price Index for All Urban   Consumers, or its successor in function, published by the United   States Bureau of Labor Statistics.          SECTION 2.  The change in law made by this Act applies to the   adoption of a qualified allocation plan and corresponding manual   for the state fiscal biennium beginning September 1, 2023.          SECTION 3.  This Act takes effect September 1, 2023.