Tex. Tax Code § 171.557 · Subchapter K. TAX CREDIT FOR CERTAIN HOUSING DEVELOPMENTS
CARRY FORWARD OR BACKWARD.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) If a taxable entity is eligible for a credit that exceeds the limitations under Section 171.556, the taxable entity may carry the unused credit back for not more than three tax years or forward for not more than 10 consecutive reports following the tax year in which the allocation certificate was issued. A credit carryforward from a previous report is considered to be used before the current year installment. A credit carried back to a previous report is considered to be used after any other franchise tax credit is applied to that report.
(b) A credit that is not used may not be refunded.
(c) The allocation of a credit in accordance with Section 171.559 does not extend the period for which a credit may be carried forward and does not increase the total amount of the credit that may be claimed.
(d) An entity may not carry back a credit under this subchapter to a tax year for which the report was originally due before January 1, 2026.
Notes and commentary — not statutory text
History
Added by Acts 2023, 88th Leg., R.S., Ch. 811 (H.B. 1058), Sec. 1, eff. January 1, 2024.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/TX/htm/TX.171.htm
- Text hash
- sha256 07d7a7bd787acfe446dc562766b2444ae04431a4833971e8c6311b981ec1ddfd
- 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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