Tex. Gov't Code § 1372.067 · Subchapter C. CARRYFORWARD OF STATE CEILING
PRIORITY 5 CARRYFORWARD CLASSIFICATION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The priority 5 carryforward classification applies to an issuer that:
(1) was created to act on behalf of this state or one or more political subdivisions of this state; and
(2) is applying for carryforward for a project:
(A) for which there has been an inducement resolution or other comparable preliminary approval; and
(B) with respect to which:
(i) a binding contract to incur significant expenditures for construction, reconstruction, or rehabilitation was entered into before submission of the application;
(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
(iii) significant expenditures were paid or incurred before submission of the application.
(b) In this section, "significant expenditures" means expenditures that are greater than the lesser of:
(1) $1 million; or
(2) 10 percent of the reasonably anticipated cost of the project.
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 0fac5f5f2d2975910fd2aff2d6c085fc31bb2cd25682acc95ed8f6b16cc79e94
- 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
Cited by 1 provision
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