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

Tex. Government Code § 1372.069: APPLICATION FOR CARRYFORWARD DESIGNATION; LIMITATIONS.

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) An issuer may apply for a carryforward designation at any time during the year in which the designation is sought.

(b) An issuer that applies for a carryforward designation may not apply later in the same year for a reservation for the same project.

(1) $50 million; or

(2) 1.70 percent of the available state ceiling.

(d) The board by rule shall prevent an issuer from applying for a carryforward designation in an amount that is greater than the amount needed.

(e) A carryforward designation granted under this section must comply with the Internal Revenue Code of 1986.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.

Amended by:

Acts 2019, 86th Leg., R.S., Ch. 992 (S.B. 1474), Sec. 16, eff. September 1, 2019.

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