Tex. Gov't Code § 1372.069 · Subchapter C. CARRYFORWARD OF STATE CEILING
APPLICATION FOR CARRYFORWARD DESIGNATION; LIMITATIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(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.
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. 16, 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 c81540d5954390b3cd3771086b422c1eae600da5ec688e6dbf9d5c6d1b23a80d
- 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
Provisions in this library whose text cites Tex. Gov't Code § 1372.069. Each shows the citation as that text prints it.
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.