{"data":{"id":"us-tx/tex.-government-code-1372.067","jurisdiction":"us-tx","citation":"Tex. Government Code § 1372.067","heading":"PRIORITY 5 CARRYFORWARD CLASSIFICATION.","body":"(a) The priority 5 carryforward classification applies to an issuer that:\n(1) was created to act on behalf of this state or one or more political subdivisions of this state; and\n(2) is applying for carryforward for a project:\n(A) for which there has been an inducement resolution or other comparable preliminary approval; and\n(B) with respect to which:\n(i) a binding contract to incur significant expenditures for construction, reconstruction, or rehabilitation was entered into before submission of the application;\n(ii) significant expenditures for construction, reconstruction, or rehabilitation were readily identifiable with and necessary to carry out a binding contract for the supply of property or services or the sale of output; or\n(iii) significant expenditures were paid or incurred before submission of the application.\n(b) In this section, \"significant expenditures\" means expenditures that are greater than the lesser of:\n(1) $1 million; or\n(2) 10 percent of the reasonably anticipated cost of the project.\nAdded by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.","path":["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"],"source_url":"https://statutes.capitol.texas.gov/Docs/GV/htm/GV.1372.htm#1372.067","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:16Z","sha256":"dc16521e11e277b2da13ccb78e1c2d5455c153a52c0d930b5400fdb875d47d8a","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-government-code-1372.066","next":"us-tx/tex.-government-code-1372.068"},"notice":"GroundRules: Original legal text. Not legal advice."}