Texas Governor Greg Abbott (R) recently signed legislation 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 percent financed-by test. H.B. 1766 gives priority to properties that have closed on a previous reservation of PABs and have applied for four percent LIHTCs in the previous four years. The bill also limits the amount of bonds issued to projects to 55 percent of aggregate basis.