This law mandates that the board allocate the state ceiling among uniform state service regions based on timely applications for reservations. It specifically applies to issuers of qualified residential rental project bonds, ensuring they meet the March 1 deadline to be considered.
Board allocates state ceiling before March 1 each year.
Only regions with timely applications receive allocations.
Late applications are ineligible for the reservation lottery.
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Explain Like I'm 5
In simple terms: Learn about Texas's Introductory Material law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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