Tex. Gov't Code § 1372.069

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

Section 1372.069 - Application for Carryforward Designation; Limitations

(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.

(c) An issuer may apply for the carryforward designation of an amount that is not more than the greater of:

(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.

Tex. Gov't. Code § 1372.069

Amended by Acts 2019, Texas Acts of the 86th Leg.- Regular Session, ch. 992,Sec. 16, eff. 9/1/2019, op. for the allocation of the available state ceiling under this Chapter beginning with the 2020 program year.

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