Tex. Gov't Code § 1372.074 · Subchapter C. CARRYFORWARD OF STATE CEILING
REASSIGNMENT OF CARRYFORWARD DESIGNATION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) After one year from the initial carryforward designation, an issuer may elect to reassign all or part of the carryforward designation in accordance with Section 1372.061(b) to the issuer's next available application for a project if the issuer provides:
(1) a written withdrawal request signed by an authorized representative of the issuer;
(2) the issuing board resolution authorizing the carryforward designation reassignment with an original signature by an officer of the issuer;
(3) applicable fees under Section 1372.006;
(4) an opinion of legal counsel stating that the carryforward designation reassignment does not conflict with Section 146, Internal Revenue Code of 1986; and
(5) any other information required by the board.
(b) A project that is reassigned a carryforward designation under this section must close within the time period allowed by the Internal Revenue Code of 1986.
(c) An unutilized carryforward designation available after a project closes on a carryforward designation under Section 1372.069 may be used by the issuer for other projects subject to Subsection (b) and Section 1372.061(b).
Notes and commentary — not statutory text
History
Added by Acts 2019, 86th Leg., R.S., Ch. 992 (S.B. 1474), Sec. 18, eff. September 1, 2019.
Amended by:
Acts 2021, 87th Leg., R.S., Ch. 969 (S.B. 1984), Sec. 2, eff. September 1, 2021.
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 9f8bfdb29864075fd68346d228746386eeeef68bde1e8c27f11617cac4b24268
- 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
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Government Code
Cited by 1 provision
Provisions in this library whose text cites Tex. Gov't Code § 1372.074. 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.