Tex. Ins. Code § 228.255 · Subchapter F. PREMIUM TAX CREDIT
ALLOCATION OF PREMIUM TAX CREDIT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) If the total premium tax credits claimed by all certified investors with respect to Program One or Program Two, as applicable, exceeds the total limits on premium tax credits established for that program by Section 228.254(a), the comptroller shall allocate the total amount of premium tax credits allowed under this chapter to certified investors in certified capital companies on a pro rata basis in accordance with this section.
(b) The pro rata allocation for each certified investor shall be the product of:
(1) a fraction, the numerator of which is the amount of the premium tax credit allocation claim filed on behalf of the investor with respect to Program One or Program Two, as applicable, and the denominator of which is the total amount of all premium tax credit allocation claims filed on behalf of all certified investors with respect to that program; and
(2) the total amount of certified capital for which premium tax credits may be allowed with respect to that program under this chapter.
(c) The maximum amount of certified capital for which premium tax credit allocation may be allowed on behalf of a single certified investor and the investor's affiliates with respect to Program One or Program Two, as applicable, whether by one or more certified capital companies, may not exceed the greater of:
(1) $10 million; or
(2) 15 percent of the maximum aggregate amount available with respect to that program under Section 228.254(a).
Notes and commentary — not statutory text
History
Added by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 1B.001, eff. April 1, 2009.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 14.007(a), eff. September 1, 2009.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.228.htm
- Text hash
- sha256 d03af8c9767abd51f3d962cddbc8ac2c6dfcaa677ea2ec395fc8b3bd5c9f886e
- 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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