Tex. Gov't Code § 1372.064

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 1372.064 - Priority 2 Carryforward Classification

The priority 2 carryforward classification applies to an issuer of bonds approved by the voters of a political subdivision of this state if:

(1) the bonds will be private activity bonds for which an allocation will be required for the bonds to be tax exempt under the Internal Revenue Code; or

(2) the excess private use of a governmental bond will require allocation so that the bond may retain its tax exempt status under the Internal Revenue Code.

Tex. Gov't. Code § 1372.064

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. 9/1/1999.