Tex. Gov't Code § 1372.043 · Subchapter B. ALLOCATION AND RESERVATION OF STATE CEILING
CANCELLATION OF RESERVATION ON ISSUER'S FAILURE TO TIMELY CLOSE ON BONDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
If an issuer does not close on the issuer's bonds as required by Section 1372.042:
(1) the reservation for the issue is canceled; and
(2) for the period beginning on the reservation date and ending on the 150th day, the 180th day, or the 210th day after the reservation date, as applicable under Section 1372.042, or on the 210th day after the reservation date if the issuer is an issuer of qualified mortgage bonds:
(A) no issuer may submit an application for a reservation for the same project; and
(B) the issuer is eligible for a carryforward designation for the project only as provided by Subchapter C.
Notes and commentary — not statutory text
History
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. 15, eff. September 1, 2019.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.1372.htm
- Text hash
- sha256 5a24e180347c8247b2de1667145170e3d0a8931be98e00517899a9cb0130c519
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
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Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.