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

Tex. Insurance Code § 228.204: CONTINUATION OF CLASSIFICATION AS QUALIFIED BUSINESS; FOLLOW-ON INVESTMENTS AUTHORIZED.

Where this section sits in the code

INSURANCE CODE
TITLE 3. DEPARTMENT FUNDS, FEES, SURCHARGES, AND TAXES
SUBTITLE B. INSURANCE PREMIUM TAXES
CHAPTER 228. PREMIUM TAX CREDIT FOR CERTAIN INVESTMENTS
SUBCHAPTER E. QUALIFIED BUSINESS

(a) A business that is classified as a qualified business at the time of the first investment in the business by a certified capital company:

(1) remains classified as a qualified business; and

(2) may receive follow-on investments from any certified capital company.

(b) Except as provided by Subsection (c), a follow-on investment made under Subsection (a) is a qualified investment even though the business may not meet the definition of a qualified business at the time of the follow-on investment.

(c) A follow-on investment does not qualify as a qualified investment if, at the time of the follow-on investment, the qualified business no longer has the business's principal business operations in this state.

Added by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 1B.001, eff. April 1, 2009.

Collected 2026-08-27T01:47:21Z. Source file · JSON

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