Tex. Gov't Code § 1372.064 · Subchapter C. CARRYFORWARD OF STATE CEILING
PRIORITY 2 CARRYFORWARD CLASSIFICATION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
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.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
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 c854107f4498bbbee24dfaaf17136319346e732eb552ac55eb4a8acc0aec590b
- 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
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.