Relating to a set-aside of low income housing tax credits for at-risk housing developments and to the allocation of housing tax credits to those developments and certain other developments.

SB 2471 requires Texas housing authorities to set aside a minimum portion of low-income housing tax credits specifically for "at-risk" housing developments (as defined by existing law) and allocate those credits before using regional formulas. It also mandates that 5% of tax credits in each application cycle must go to developments receiving federal assistance through the U.S. Department of Agriculture’s rural housing programs, with rehabilitation projects using funds from the at-risk set-aside. The bill directly affects developers and housing finance entities managing federal housing funds under the Cranston-Gonzalez Act, ensuring priority for vulnerable housing projects. It modifies allocation rules to prioritize at-risk developments and USDA-assisted rural housing without changing overall funding levels.