Texas · Through 89th 2nd Called Legislative Session, 2025

Tex. Government Code § 1372.062: PRIORITY CLASSIFICATIONS OF CARRYFORWARD DESIGNATIONS.

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 C. CARRYFORWARD OF STATE CEILING

(a) The board shall:

(1) designate amounts as carryforward in accordance with the system of priority classifications specified in Sections 1372.063-1372.068; and

(2) in each classification, make the designations in order of the application for those designations.

(b) Notwithstanding Subsection (a), the board shall designate in compliance with the requirements of Section 146(f), Internal Revenue Code of 1986, a carryforward relating to an issuer's written election under Section 1372.042(c) according to the category of bonds to which the reservation subject to the carryforward relates.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999. Amended by Acts 2001, 77th Leg., ch. 1367, Sec. 10.10, eff. Sept. 1, 2001.

Collected 2026-08-27T01:47:16Z. Source file · JSON

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