Texas § 1372.069 APPLICATION FOR CARRYFORWARD DESIGNATION; LIMITATIONS.

Texas Statutes

§ 1372.069 — APPLICATION FOR CARRYFORWARD DESIGNATION; LIMITATIONS.

Texas § 1372.069

Code GVGovernment Code

This text of Texas § 1372.069 (APPLICATION FOR CARRYFORWARD DESIGNATION; LIMITATIONS.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Government Code Code Ann. § 1372.069 (2026).

Text

Sec. 1372.069. APPLICATION FOR CARRYFORWARD DESIGNATION; LIMITATIONS.

(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.

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Sec. 1372.069. APPLICATION FOR CARRYFORWARD DESIGNATION; LIMITATIONS. (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.

Legislative 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.