GroundRules
Tex. Government Code § 1372.024: INCREASE IN AMOUNT OF STATE CEILING AVAILABLE TO ISSUERS OF STATE-VOTED ISSUES.
Where this section sits in the code
- GOVERNMENT CODE
- TITLE 9. PUBLIC SECURITIES
- SUBTITLE F. SPECIFIC AUTHORITY FOR STATE OR LOCAL GOVERNMENT TO ISSUE SECURITIES
- CHAPTER 1372. PRIVATE ACTIVITY BONDS AND CERTAIN OTHER BONDS
- SUBCHAPTER B. ALLOCATION AND RESERVATION OF STATE CEILING
(a) If, before January 2, applications received for reservations for state-voted issues total more than 10 percent of the available state ceiling for that program year, the percentage of state-voted ceiling requested that is more than 10 percent of the state ceiling:
(1) is removed from the state ceiling available to other issuers on January 2; and
(2) is available for those applications for reservations for state-voted issues.
(b) The amount removed under Subsection (a) may not exceed 10 percent of the state ceiling.
(c) The remaining portion of the state ceiling is available in accordance with Section 1372.022(a).
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999. Amended by Acts 2003, 78th Leg., ch. 969, Sec. 2, eff. Sept. 1, 2003; Acts 2003, 78th Leg., ch. 1329, Sec. 5, eff. Sept. 1, 2003.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 992 (S.B. 1474), Sec. 7, eff. September 1, 2019.
Collected 2026-08-27T01:47:16Z. Source file · JSON